SBI (State Bank of India) has made a net profit (standalone net profit) of Rs 18,331 crore in the second quarter of the financial year 2024-25. It has increased by 28% on an annual basis. A year ago, i.e. in the second quarter of the financial year 2023-24, the company had a profit of Rs 14,330 crore.
The total income of the bank increased by 15.13%
In the July-September quarter, the bank’s total income grew 15.13% year-on-year 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. In April-June, the bank’s income was Rs 1,22,687 crore.
Net interest income decreased by 5%
SBI’s net interest income (NII) in the July-September quarter fell 5% on a 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.
The amount not recovered becomes NPA
If the borrower does not return the loan or advance given by the bank on time, then the bank declares that amount as a non-performing asset (NPA). Generally, in case of non-return for 90 days, the bank puts the loan or advance amount in the list of NPA.
SBI shares gave 45% return in one year
After the results, the stock of State Bank of India has fallen by more than 2%. At 2:35 pm, it is trading at 840, down 2.47%. The company’s stock has given a return of 7.87% in the last one month, 3.97% in 6 months and 45.26% in one year. SBI’s stock has 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 in the country
SBI (State Bank of India) is the largest government bank in the country. The government has a 57.59% stake in SBI. It was established on 1 July 1955. The bank is headquartered in Mumbai and operates in 29 countries of the world. The bank has more than 22,500 branches and more than 50 crore customers. It has 241 branches outside India.
