SBI Q1 FY25 Results: PSU lender beats analysts' expectations with Rs 17,035 crore profit; NII grows 6%
SBI Q1 FY25 Results: State Bank of India (SBI) - the country's largest lender by assets - has registered a 0.9 per cent increase in its net profit to Rs 17,035.2 crore for the quarter ended June 30, exceeding analysts' estimates. Its net interest income -- or the difference between the interest earned and the interest paid -- increased 5.7 per cent on a year-on-year basis. Read on to know more about the latest earnings report of the state-run banking behemoth.
SBI Q1 FY25 Results: State Bank of India - the country's largest lender by assets - on Saturday reported a net profit of Rs 17,035.2 crore for the April-June period, marking a 0.9 per cent increase over the corresponding quarter a year ago that was much better than analysts' estimates of a contraction. Read on to know key takeaways from the state-run banking giant's latest earnings report.
SBI Q1 FY25 RESULTS | Net profit up 0.9%
SBI registered a year-on-year increase in its standalone net profit to Rs 17,035.2 crore for the quarter ended June 30.
SBI Q1 FY25 RESULTS | Net interest income (NII) up 5.7%
Its June-quarter net interest income - or the difference between the interest earned and the interest paid - stood at Rs 41,125.5 crore, up 5.7 per cent over the year-ago period.
SBI Q1 FY25 RESULTS | Net profit beats Street estimates
According to Zee Business research, SBI was estimated to log a net profit of Rs 16,100 crore and NII of Rs 42,300 crore for the fiscal first quarter of the current financial year.
SBI Q1 FY25 RESULTS | Asset quality
SBI's asset quality largely remained stable, as its gross non-performing assets (GNPAs) as a percentage of total loans came in at 2.21 per cent for the June quarter, as against 2.24 per cent for the previous three months.
SBI Q1 FY25 RESULTS | Asset quality
Its net non-performing assets (NNPAs) - or net bad loans - remained at the same level as the March quarter, at 0.57 per cent.