 "SBI")
Retail loan and Corporate loans registered growth of 13.60 per cent and 15.92 per cent respectively. Home loans grew by 13.34 per cent year on year to Rs 7.40 trillion.
State Bank of India – the country’s largest lender – reported muted growth in its net profit of 0.89% during the April-June due to higher provisioning for non-performing assets.
The bank posted a net profit of Rs 17,035.16 crore in Q1FY25 as compared to Rs 16,884.29 crore during the same period of the previous financial year.
Total provisions were up 37.9 per cent Year-on-Year (YoY) at Rs 3,449.42 crore, while loan loss provisions were up 70 per cent at Rs 4,518.07 crore.
Net Interest Income (NII) for the quarter was Rs 41,125.5 crore, up 5.7 per cent and net interest margin fell 12 bps, both sequentially and YoY basis, to 3.35 per cent.
The gross NPA ratio was at 2.21% by the end of the first quarter, an improvement of 55 bps YoY. Net NPA ratio was at 0.57 per cent, down 14 bps YoY.
Provision coverage ratio excluding technical write-offs were at 74.41 per cent.
The lender reported credit growth of 15.39 per cent YoY at Rs 32.18 trillion, driven by SME Advances (19.87 per cent YoY) followed by agri advances which grew by 17.06 per cent YoY.
Retail loan and corporate loans registered growth of 13.60 per cent and 15.92 per cent, respectively. Home loans grew by 13.34 per cent YoY to Rs 7.40 trillion.
Deposits grew 8.18 per cent to Rs 49 trillion, out of which Current and Savings Account (CASA) deposit grew 2.59 per cent.
The CASA ratio fell to 40.70 per cent as on June 30, 24 from 42.88 per cent a year ago and 41.11 per cent sequentially.
Capital Adequacy Ratio (CAR) at the end of Q1FY25 stood at 13.86 per cent, down 70 bps from the year ago period. The common equity tier-1 ratio was 10.25 per cent.
First Published: Aug 03 2024 | 2:30 PM IST
