New Delhi: state Bank of India (SBI) said on Saturday that Net Profit For the first quarter of the current financial year 2024-25 (Q1FY25), it had posted a net profit of Rs 17,035 crore a growth of 0.89 per cent year-on-year (YoY) was registered, while the April-June quarter of 2023-24 (Q1FY24) witnessed a significant net profit of Rs 16,884 crore.
complete Income SBI said in a regulatory filing that the total income of the bank increased to Rs 1,22,688 crore in the first quarter of this financial year. In comparison, the total income in the same period last year was Rs 1,08,039 crore.
Gross Non-Performing Assets (NPA) of the bankNPAAs a percentage of total advances, it declined to 2.21 per cent in the first quarter from 2.76 per cent in the year-ago period ending June last year.
The bank's net NPA also improved, declining from 0.71 per cent last year to 0.57 per cent by June 2024.
The largest lender bank's interest income increased significantly to Rs 1,11,526 crore in the quarter under review. This is higher than the interest income of Rs 95,975 crore earned in the same quarter last year.
Considering the consolidated financial results, SBI's net profit increased marginally to Rs 19,325 crore in the current quarter compared to Rs 18,537 crore in the same quarter of the previous fiscal.
The total income of the Bank increased to Rs 1,52,125 crore in the current financial year as against Rs 1,32,333 crore in the same period of the previous financial year, indicating substantial improvement in its financial performance.
Apart from approving the financial results, the board also gave the green signal to proposals to raise funds up to Rs 25,000 crore during FY25. The funds can be raised by issuing Basel III compliant additional tier 1 bonds and tier 2 bonds in rupee or dollar denominations, which can be offered to investors both domestically and internationally.
The lender added that, Fundraising Wherever necessary, it will be subject to the approval of the Central Government.
(with inputs from agencies)
complete Income SBI said in a regulatory filing that the total income of the bank increased to Rs 1,22,688 crore in the first quarter of this financial year. In comparison, the total income in the same period last year was Rs 1,08,039 crore.
Gross Non-Performing Assets (NPA) of the bankNPAAs a percentage of total advances, it declined to 2.21 per cent in the first quarter from 2.76 per cent in the year-ago period ending June last year.
The bank's net NPA also improved, declining from 0.71 per cent last year to 0.57 per cent by June 2024.
The largest lender bank's interest income increased significantly to Rs 1,11,526 crore in the quarter under review. This is higher than the interest income of Rs 95,975 crore earned in the same quarter last year.
Considering the consolidated financial results, SBI's net profit increased marginally to Rs 19,325 crore in the current quarter compared to Rs 18,537 crore in the same quarter of the previous fiscal.
The total income of the Bank increased to Rs 1,52,125 crore in the current financial year as against Rs 1,32,333 crore in the same period of the previous financial year, indicating substantial improvement in its financial performance.
Apart from approving the financial results, the board also gave the green signal to proposals to raise funds up to Rs 25,000 crore during FY25. The funds can be raised by issuing Basel III compliant additional tier 1 bonds and tier 2 bonds in rupee or dollar denominations, which can be offered to investors both domestically and internationally.
The lender added that, Fundraising Wherever necessary, it will be subject to the approval of the Central Government.
(with inputs from agencies)
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