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 "SBI")
Gross non-performing asset ratio of 2.76 per cent was down by 115 bps YoY. Net NPA ratio, at 0.71 per cent, was down 29 bps YoY.
State Bank of India (SBI) on Friday reported a 178. 25 per cent rise in net profit to Rs 16,884 crore for the quarter-ended June 30, 2023 on the back of healthy loan growth and margin expansion.
Net interest income – the difference between interest earned and interest expended – grew by 24.71 per cent to Rs 38,905 crore. Net interest margin swelled 24 bps year-on-year (YoY) to 3.47 per cent.
Gross advances grew 13.9 per cent to Rs 33 billion, of which retail loans grew by 16.46 per cent to Rs 12 trillion. Home loans grew by
“Once again we have recorded the highest ever profit [quarterly],” said SBI chairman Dinesh Khara, adding there was no one-off item to boost profit in the first quarter. “Credit growth was robust in all the segments,” he said.
Loan loss provision for the quarter declined by 37 per cent to Rs 2652 crore.
Gross non-performing asset ratio of 2.76 per cent was down by 115 bps YoY. Net NPA ratio, at 0.71 per cent, was down 29 bps YoY.
“Whole Bank Deposits grew at 12 per cent YoY, out of which CASA Deposit grew by 5.57 per cent YoY. CASA ratio stands at 42.88 per cent as on 30 June 23,” said SBI, India’s largest lender, in a statement.
First Published: Aug 04 2023 | 3:11 PM IST
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