SBI’s Q1FY25 Results
SBI’s net revenues grew over 15% YoY
- 05 Aug 2024
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- SBI’s net revenues (net interest income plus other income) decreased by 7.8% quarter-on-quarter (QoQ) during the quarter ended June (Q1FY25). On a year-on-year (YoY) basis, it witnessed a growth of 15%.
- Its expenses for the quarter were down by 9.3% QoQ and up 16.6% YoY.
- The bank’s net profit decreased 9.6% QoQ and grew 4.3% YoY.
- The earnings per share (EPS) of SBI stood at 21.7 during Q1FY25.
SBI's Financial Statements for Q1FY25:
| (₹ crores) | Q1FY24 | Q4FY24 | Q1FY25 | QoQ (%) | YoY (%) |
|---|---|---|---|---|---|
Total income | 132,332.8 | 164,914.4 | 152,125.1 | -7.8% | 15.0% |
Total expenses | 104,024.6 | 133,671.0 | 121,289.7 | -9.3% | 16.6% |
Provisions & contingencies | 3,100.6 | 2,391.5 | 4,407.6 | 84.3% | 42.2% |
Profit before tax | 25,207.6 | 28,851.9 | 26,427.8 | -8.4% | 4.8% |
Tax | 6,471.7 | 7,115.4 | 6,747.0 | -5.2% | 4.3% |
Profit after tax | 18,536.8 | 21,384.8 | 19,325.0 | -9.6% | 4.3% |
Earnings per share | 20.8 | 24.0 | 21.7 |
Financials:
- Total Income: ₹152,125.1 crores, up 15.0% YoY from ₹132,332.8 crores.
- Total Expenses: ₹121,289.7 crores, up 16.6% YoY from ₹104,024.6 crores.
- Provisions & Contingencies: ₹4,407.6 crores, up 42.2% YoY from ₹3,100.6 crores.
- Profit After Tax: ₹19,325.0 crores, up 4.3% YoY from ₹18,536.8 crores.
- Earnings Per Share (EPS): ₹21.7, up from ₹20.8 YoY.
- Net Interest Margin (NIM):
- Whole Bank NIM is at 3.22% for Q1FY25
- Domestic NIM is at 3.35% for Q1FY25
- Asset Quality:
- Gross NPA Ratio: Improved by 55 basis points year-on-year to 2.21%.
- Net NPA Ratio: Improved by 14 basis points to 0.57%.
Management Commentary:
Dinesh Kumar Khara, Chairperson of State Bank of India, said,
- “While deposit growth is currently lagging behind credit growth, the bank’s substantial excess statutory liquidity ratio (SLR) portfolio is playing a crucial role in supporting credit expansion. In addition, the bank is actively engaging in infrastructure bond issuances and certificates of deposit to enhance its lending resources.
- Despite an increase in the cost of deposits—rising by 45 basis points year-on-year to 5 per cent for domestic operations and by 76 basis points to 4.30 per cent for foreign offices—the whole-bank net interest margin (NIM) experienced only a modest decline of 11 basis points year-on-year, settling at 3.22 per cent.”
- He attributed this remarkable progress to a sharp focus on the quality of advances and the enhancement of other income streams. “These are some of the factors that helped us,” Khara emphasised during his quarterly results press meeting.
Data Source: BSE, Company announcements
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