It was higher than the Street’s estimates of Rs 16,219 crore.
SBI’s net interest income (NII) for Q3FY25 increased by 4.09% YoY to Rs 41,620 crore from Rs 39,816 crore reported in the year-ago period.
Meanwhile, the net interest margin (NIM) contracted by 19 bps YoY and 12 bps QoQ to 3.15% in the reported quarter. SBI’s operating profit for Q3FY25 grew by 15.81% YoY to Rs 23,551 crores.
The interest income in Q3FY25 stood at Rs 1,17,427 crore, up 10% over Rs 1,06,734 crore reported in the corresponding quarter of the last financial year.
The profit after tax (PAT) saw an 8% decline on a sequential basis versus Rs 18,331 crore reported in Q2FY25.
The earnings were announced during the market hours and SBI shares were trading 0.55% lower at Rs 761.85 on the BSE around 2:20 pm.
SBI paid Rs 75,981 crore as interest, up by over 13% against Rs 66,918.05 crore reported in the July-September quarter.
State Bank of India Q3 Credit Growth
The lender’s credit growth was reported at 13.49% YoY with domestic advances growing by 14.06% YoY. Gross advances crossed the Rs 40 lakh crore mark. The foreign offices’ advances grew by 10.35% YoY.
The SME advances grew by 18.71% YoY followed by agri advances, which grew by 15.31% YoY, while corporate advances and retail personal advances registered YoY growth of 14.86% and 11.65%, respectively.
Q3 deposits
Whole bank deposits grew at 9.81% YoY, out of which CASA deposits grew by 4.46% YoY. CASA ratio stood at 39.20% as of December 31, 2024.
Asset Quality
The gross NPA ratio stood at 2.07%, which improved by 35 bps YoY while the net NPA ratio stood at 0.53% improving by 11 bps YoY.
