SBI BOOKS PROFIT OF RS 17,035 CR FOR Q1FY25, UP 1% YOY

The State Bank of Indlia (SBI) has announced its financial results for the first quarter of the fiscal year 2024-25 (Q1FY25), with a net profit of Rs 17,035 crores for QIFY25, marking a year-on-year (YoY) growth of 0.89 per cent.

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The operating profit for the quarter saw a more significant rise, increasing by 4.55 per cent YoY to Rs 26,449 crores. The bank's Return on Assets (ROA ) and Return on Eguity (ROE) stood at 1.10 per cent and 20.98 per cent respectively, underscoring the bank's efficient management and profitable operations. The bank's Net Interest Income (NII) for QIFY25 rose by 5.71 per cent Yo, reflect-ing improved interest earnings. The Whole Bank Net Interest Margin (NIM) was recorded at 3.22 per cent, with the Domestic NIM slightly higher at 3.35 per cent.

These figures indicate strong interest income relative to the bank's interest-earning assets, show-casing SBT's effective interest rate management.