State Bank of India (SBI), the country's largest government bank, has made a net profit (standalone net profit) of Rs 18,331 crore in the second quarter of the financial year 2024-25. There has been an increase of 28% on annual basis. A year ago, i.e. in the second 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.
Net interest income decreased by 5%
In the July-September quarter, SBI's net interest income (NII) declined by 5% on year-on-year (YoY) basis to Rs 39,500 crore. It was Rs 41,620 crore in the same quarter last year. It has also 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 declares that amount as NPA or non-performing asset. Generally, if returns are not received for 90 days, the bank puts the loan or advance amount in the NPA list.
What is standalone and consolidated?
The results of companies come in two parts – standalone and consolidated. Standalone shows the financial performance of only one unit. Whereas, in the consolidated financial report, the entire company is reported.
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.
SBI is the largest government bank of the country.
SBI State Bank of India is the largest government bank in the country. The government holds 57.59% stake in SBI. It was established on 1 July 1955. The headquarters of the bank is in Mumbai. The bank has more than 22,500 branches and more than 50 crore customers. The bank operates in 29 countries of the world. It has 241 branches outside India.
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