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SBI Q2 Results: Its net profit surges 28 per cent to Rs 18,331 crore for the second quarter ended September 2024. It is above market expectations.
State Bank of India has declared its Q2 FY25 results.
State Bank of India (SBI) on Friday reported a 28 per cent surge in its net profit to Rs 18,331 crore for the second quarter ended September 2024. It is above market expectations. Its net interest income (NII), the difference between the interest earned and interest expended, rose 5.37 per cent to Rs 41,620 crore in the July-September 2024 quarter.
Government-owned SBI is the country’s largest lender.
SBI’s gross NPA improved by 42 basis points to 2.13 per cent during Q2 FY25. Its net NPA ratio at 0.53 per cent improved by 11 bps YoY.
Its whole bank deposits grew at 9.13 per cent YoY, out of which CASA Deposit grew by 4.24 per cent YoY. CASA ratio stands at 40.03 per cent as on September 30, 2024.
Credit growth at 14.93% YoY with Domestic Advances growing by 15.55% YoY.
