SBI Q2 Results: PSU bank's net profit jumps 28% to Rs 18,331 crore, beats Street estimates

SBI Q2 FY25 Results: State Bank of India (SBI) on Friday reported a net profit of Rs 18,331 crore for the July-September period, an increase of 27.9 per cent over the corresponding period a year ago.

The PSU bank's net interest income (NII)—or the difference between the interest earned and the interest paid—increased 5.4 per cent to Rs 41,620 crore, according to a regulatory filing.

According to Zee Business research, SBI was estimated to register a net profit of Rs 16,400 crore over NII of Rs 41,600 crore for the fiscal second quarter. 

SBI's net interest margin (NIM)—a key measure of profitability for financial institutions—stood at 3.27 per cent for the quarter ended September 30, 2024, as against 3.35 per cent for the previous three months and 3.43 per cent for the quarter ended September 30, 2023.  

SBI reported credit growth of 14.9 per cent and an increase of 15.5 per cent in its domestic advances for the fiscal second quarter.

SBI Q2 FY25 Earnings | Asset quality improves

State Bank of India clinched an improvement in asset quality during the quarter under review.

Its gross non-performing assets (GNPAs) stood at 2.13 per cent of its total loans for the September quarter, lower than 2.21 per cent for the previous three months. 

Additionally, its net non-performing assets (NNPAs) decreased to 0.53 per cent of its total loans for the quarter under review, from 0.57 per cent three months ago.  

SBI Shares

The SBI stock remained under pressure after the earnings announcement, falling as much as 2.9 per cent to Rs 834.3 apiece on BSE during the session.

At 2:30 pm, SBI Shares were down 2.4 per cent for the day at Rs 838.7 apiece on the bourse.

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