Due mostly to a decrease in loan loss provisions, State Bank of India (SBI), the biggest lender in the nation, recorded a net profit of Rs 16,891 crore in the third quarter of the fiscal year 2025 (Q3FY25), up 84.32 percent from Rs 9,164 crore in the same period the year before (Q3FY24).
The public sector lender's profit decreased 7.86 percent sequentially from Rs 18,331 crore in the September quarter (Q2FY25).
The Net Interest Income (NII) of the Mumbai-based bank increased 4.09 percent year over year (Y-o-Y) to Rs 41,446 crore in Q3FY25 from Rs 39,816 crore in the same quarter the previous year.
In Q2FY25, NII was flat at Rs 41,620 crore. The domestic business's net interest margin (NIM) decreased from 3.34 percent in Q3FY24 to 3.15 percent in Q3FY25. NIM decreased sequentially from 3.27 percent in Q2 of FY25.
In Q3FY25, its loan loss provisions increased from Rs 1,756 crore in Q3FY24 to Rs 2,305 crore. They fell from Rs 3,631 crore in Q2FY25, though.
In Q3FY25, SBI's advances increased 13.49% year over year to Rs 40.67 trillion. The retail advances reached Rs 14.47 trillion, an increase of 11.65%. The total amount of deposits rose 9.81% year over year to Rs 52.29 trillion.
The share of low-cost deposits -- current account and saving account (Casa) -- in domestic books declined to 39.2 per cent at the end of December 2024 from 41.18 per cent a year ago. Sequentially, they fell to 40.03 per cent in September 2024.
The bank’s gross non-performing asset (NPA) ratio was 2.07 per cent at the end of December 2024 improved by 35 basis points Y-o-Y. The net NPA ratio was at 0.53 per cent, improved by 11 basis points Y-o-Y. The provision coverage ratio, including technical write-offs, stood at 91.74 per cent in December as against 91.49 per cent a year ago.
SBI's shows good growth
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