New Delhi [India], February 6 : The State Bank of India (SBI) has reported a significant 84.32 per cent year-on-year (YoY) growth in net profit, reaching Rs16,891 crore in Q3FY25. This strong performance was driven by higher operating profit and improved asset quality.
According to SBI, the operating profit for the quarter stood at Rs23,551 crore, marking a 15.81 per cent YoY increase. Additionally, the Net Interest Income (NII) grew by 4.09 per cent YoY to Rs41,446 crore, while the Return on Assets (ROA) improved to 1.04 per cent, rising 42 basis points (bps) YoY. The bank's Net Interest Margin (NIM) for the domestic business stood at 3.15 per cent in Q3FY25.
The bank also witnessed robust credit growth, with total advances crossing Rs40 lakh crore. Credit growth stood at 13.49 per cent YoY, with domestic advances growing by 14.06 per cent YoY, while foreign office advances increased by 10.35 per cent YoY.
Segment-wise, SME lending surged by 18.71 per cent YoY, followed by agriculture loans at 15.31 per cent YoY. Corporate advances rose 14.86 per cent YoY, while retail personal advances registered a growth of 11.65 per cent YoY.
On the deposit front, the total deposits grew by 9.81 per cent YoY, with the Current Account Savings Account (CASA) ratio at 39.20 per cent as of December 31, 2024.
The bank has also demonstrated improved asset quality, with the Gross NPA ratio reducing to 2.07 per cent, an improvement of 35 bps YoY.
The Net NPA ratio improved by 11 bps YoY to 0.53 per cent, indicating better risk management and recoveries. The Provision Coverage Ratio (PCR) rose to 74.66 per cent, marking an improvement of 49 bps YoY.
Moreover, the slippage ratio for Q3FY25 improved by 19 bps YoY to 0.39 per cent, further strengthening the bank's financial stability.
On the capital front, the Capital Adequacy Ratio (CAR) stood at 13.03 per cent at the end of Q3FY25, ensuring a strong capital position.
The bank continues to expand its digital presence, with 64 per cent of new savings accounts opened digitally through YONO.
Additionally, the share of transactions through alternate banking channels increased to 98.1 per cent in 9MFY25, compared to 97.7 per cent in 9MFY24.
Overall, the bank's strong profitability, improved asset quality, and growing digital banking presence reflect its resilient growth trajectory.
Despite a slight quarter-on-quarter decline in net profit due to higher provisions, the bank remains well-positioned for sustained performance in the coming quarters.