State Bank of India’s net profit has seen a slight increase of 0.89% for the first quarter of fiscal 2025, reaching Rs 17,035 crore. This growth has been welcomed by investors and analysts, surpassing the estimated net profit of Rs 16,595 crore. The core income of the lender, known as net interest income, has also witnessed a healthy rise of 5.7% year-on-year, reaching Rs 41,125 crore.
The highlights of SBI’s Q1 FY25 report are as follows:
– Net profit up 0.89% to Rs 17,035.16 crore compared to Rs 16,884.3 crore (YoY).
– Net interest income up 5.7% to Rs 41,125 crore compared to Rs 38,904.9 crore (YoY).
– Gross NPA at 2.21% versus 2.24% (QoQ).
– NNPA at 0.57% versus 0.57% (QoQ).
– Provisions for the quarter have risen by 37.9% year-on-year, totaling Rs 3,449.4 crore.
SBI’s continued growth and stability in its financial performance are indicative of its strong position in the banking sector. Investors can look forward to sustained profitability and reliable returns from their investments in the nation’s largest public sector bank.
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