SBI’s Q2 Net Profit 28% at Rs183.31 Bn; India’s largest lender’s Gross NPA ratio stands at 2.13%
FinTech BizNews Service
Mumbai, 8 November, 2024: State Bank of India declared its Q2 FY25 Financial Results today.
Highlights
Profitability
• Net Profit for Q2FY25 stands at Rs18,331 crores registering a growth of 27.92% YoY.
• Operating Profit for Q2FY25 grew by 50.87% YoY to Rs29,294 crores.
• Bank’s ROA and ROE for the half year stand at 1.13% and 21.78% respectively.
• ROA at 1.17% for the quarter increased by 16 bps YoY. • Net Interest Income (NII) for Q2FY25 increased by 5.37% YoY. • Whole Bank and Domestic NIM for the half year stand at 3.18% and 3.31% respectively.
• Whole Bank NIM for Q2FY25 is at 3.14% and Domestic NIM is at 3.27%.
Balance Sheet
• Credit growth at 14.93% YoY with Domestic Advances growing by 15.55% YoY.
• Foreign Offices’ Advances grew by 11.56% YoY.
• Domestic Advances growth is driven by Corporate Advances (18.35% YoY) followed by Agri Advances which grew by 17.67% YoY.
• SME and Retail Personal Advances loans registered YoY growth of 17.36% and 12.32% respectively.
• Whole Bank Deposits grew at 9.13% YoY, out of which CASA Deposit grew by 4.24% YoY. CASA ratio stands at 40.03% as on 30th September 24.
Asset Quality
• Gross NPA ratio at 2.13% improved by 42 bps YoY.
• Net NPA ratio at 0.53% improved by 11 bps YoY.
• PCR (incl. AUCA) improved by 28 bps YoY and stands at 92.21%. Provision Coverage Ratio (PCR) at 75.66% improved by 21 bps YoY.
• Slippage Ratio for H1FY25 improved by 2 bps YoY and stands at 0.68%. Slippage Ratio for Q2FY25 increased by 5 bps YoY and stands at 0.51%
• Credit Cost for Q2FY25 stands at 0.38%. Capital Adequacy
• Capital Adequacy Ratio (CAR) as at the end of Q2FY25 stands at 13.76%.
Alternate Channels
• 61% Of SB Accounts Acquired Digitally Through YONO. • Share of Alternate Channels in total transactions increased from 97.7% in H1FY24 to 98.2% in H1FY25.
