SBI Q3 results: Net profit surges 84% to ₹16,891 crore
The Hindu
SBI reports strong financial performance with increased profits and improved asset quality in Q3 of current fiscal year.
The country's largest lender SBI on Thursday (February 6, 2025) reported an 84% jump in standalone net profit to ₹16,891 crore in the December quarter.
State Bank of India (SBI) had earned a standalone net profit of ₹9,164 crore in the year-ago period.
The bank's total income rose to ₹1,28,467 crore in the third quarter of the current fiscal against ₹1,18,193 crore in the same period a year ago, SBI said in a regulatory filing.
During the quarter, the bank's interest income grew to ₹1,17,427 crore compared to ₹1,06,734 crore a year ago.
On the asset quality front, the bank witnessed improvement with gross Non-Performing Assets (NPA) moderating to 2.07% at December-end from 2.42% at the end of the third quarter of the last year.
Similarly, net Non-Performing Assets (NPAs) also eased to 0.53% against 0.64% at the end of the same period a year ago.
On a consolidated basis, SBI Group's net profit rose by 70% to ₹18,853 crore over ₹11,064 crore in FY24.
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