SBI Q4 results: On Thursday, the State Bank of India (SBI), India’s foremost lender by assets, unveiled a significant uptick in its fourth-quarter (Q4 FY24) profit, marking a notable 23.98% surge to Rs 20,698 crore from Rs 16,695 crore recorded a year earlier.
During the quarter under review, the bank’s interest earned saw a robust growth of 19.46%, soaring to Rs 1.11 lakh crore.
In the fourth quarter of FY24, the balance sheet of SBI exhibited a credit growth of 15.24% year-on-year (YoY), with domestic advances showing a robust increase of 16.26%. The bank’s overall deposits witnessed a growth of 11.13% YoY, with CASA deposits specifically rising by 4.25%. As of March 31, 2024, SBI’s CASA ratio stands at 41.11%.
Regarding asset quality, there was a positive trend observed: the gross NPA (non-performing asset) ratio decreased to 2.24%, marking an improvement of 54 basis points (bps) compared to the previous year. Additionally, the net NPA ratio stood at 0.57%, reflecting a YoY improvement of 10 bps.
As of the end of FY24, the State Bank of India (SBI) boasts a robust capital adequacy ratio (CAR) of 14.28%.
In terms of operational performance, SBI’s operating profit for the entirety of FY24 saw a commendable year-on-year growth of 12.05%, reaching Rs 93,797 crore. Similarly, the operating profit for Q4 FY24 exhibited a notable increase of 16.76% YoY, reaching Rs 28,748 crore.
In FY24, the State Bank of India (SBI) achieved a return on assets (ROA) of 1.04% and a return on equity (ROE) of 20.32%. -SBI Q4 results
Following the release of its quarterly results, SBI shares experienced a notable increase, trading 2.92% higher at Rs 834.05.
On the Bombay Stock Exchange (BSE), approximately 10.54 lakh shares were observed changing hands today, surpassing the two-week average volume of 8.64 lakh shares.
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The total turnover on the counter amounted to Rs 86.62 crore, contributing to a market capitalization (m-cap) of Rs 7,36,548.22 crore.
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