State Bank of India (SBI), the country’s biggest government bank, has made a net profit (standalone net profit) of RS 18,331 crore in the moment quarter of the monetary year 2024-25. There has been an increment of 28% on yearly premise. A year back, i.e. in the moment quarter of the financial year 2023-24, the company had made a profit of RS 14,330 crore.
Bank’s Total income increased by 15.13%
The total income of the bank increased by 15.13% on an annual basis in the July-September quarter to RS 1,29,141 crore, which was RS 1,12,169 crore in the same quarter last year. It has increased by 5.26% compared to the previous quarter. The bank’s income in April-June was RS 1,22,687 crore.
SBI is the largest government bank of the country
SBI State Bank of India is the biggest government bank in the country. The government holds 57.59% stake in SBI. It was founding on 1 July 1955. The center of operations of the bank is in Mumbai. The bank has more than 22,500 branches and more than 50 crore clients. The bank works in 29 countries of the world. It has 241 branches outside India.
Net interest income Decreased by 5%
In the July-September quarter, SBI’s net intrigued salary (NII) declined by 5% on year-on-year (YoY) premise to RS 39,500 crore. It was RS 41,620 crore in the same quarter final year. It has moreover declined by 4% compared to the April-June quarter. In Q1 it was RS 41,125 crore.
Amount Not returned becomes NPA
If the loan or advance given by the bank is not returned on time, the bank pronounces that amount as NPA or non-performing resource. For the most part, if returns are not gotten for 90 days, the bank puts the loan or advance amount in the NPA list.
The results of companies come in two parts – standalone and solidified. Standalone shows the financial execution of as it were one unit. While, in the solidified financial report, the whole company is detailed.
SBI shares gave 45% return in one year
After the results, State Bank of India shares are down by more than 2%. At 2:35 pm it is trading at 840 level, down 2.47%. The company’s shares have given returns of 7.87% in last one month, 3.97% in 6 months and 45.26% in one year. SBI shares have risen 31.43% this year i.e. from January 1 till now. The market cap of the bank is Rs 7.51 lakh crore.
