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SBI’s net profit rises 1% to Rs 17,035.16 crore in Q1 FY25
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Gross non-performing assets (NPA) ratio improves marginally to 2.21%
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Net interest income (NII) increases by 6% to Rs 41,125 crore
State Bank of India (SBI) has reported a marginal 1% rise in its net profit to Rs 17,035.16 crore in the first quarter of FY25. The bank’s net interest income (NII) has increased by 6% to Rs 41,125 crore, while its gross non-performing assets (NPA) ratio has improved marginally to 2.21%. The bank’s operating profit has also increased by 4.55% to Rs 26,449 crore.
The bank’s gross advances have surged by 15.39% to Rs 38,12,087 crore, while total deposits have grown by 8.18% to Rs 49,01,726 crore. However, the bank’s net interest margins (NIMs) have declined to 3.22% from 3.33% in the year-ago period. The bank’s shares have gained 32.18% this year, but closed down by 1.73% on Friday.
