SBI results: PSU bank’s Q3 profit jumps 84% to ₹16,891 cr; asset quality improves

State Bank of India (SBI), the country’s largest commercial lender, has reported a sharp jump of 84.3% in its standalone net profit at ₹16,891 crore in the December quarter of FY25, compared to ₹9,164 crore in the year ago period. On a sequential basis, the profit was down 7.8% from ₹18,331 crore in Q2 FY25, the PSU lender says in a BSE filing today.

The net interest income (NII) for Q3 FY25 stood at ₹41,445.51 crore compared to ₹39,815.73 crore, registering a YoY growth of 4%. The NII was flat as compared to ₹41,619.54 crore posted in the September quarter of the current fiscal.

The operating profit of the bank grew by 15.81% YoY to ₹23,551 crore in Q3 FY25, while it was down by 20% sequentially.

On the asset quality front, gross non-performing assets (GNPA) ratio improved to 2.07% in Q3 FY25 from 2.42% in the same period last year, and 2.13% in Q2 FY25. Similarly, the net NPA figure was at 0.53% versus 0.64% in Q3 FY24 and 0.53% in September quarter of FY25.

As per the exchange filing, credit growth was at 13.49% YoY with domestic advances growing by 14.06% YoY. Gross advances cross ₹40 lakh crore during the quarter under review.

Segment-wise, retail personal advances grew by 11.65% YoY; corporate advances registered YoY growth of 14.86%; and Foreign offices’ advances rose by 10.35% YoY. Among others, SME advances grew by 18.71% YoY, while that of agri advances by 15.31% YoY.

In Q3 FY25, whole bank deposits grew at 9.81% YoY, out of which Current Account and Savings Account (CASA) deposit grew by 4.46% YoY. CASA ratio stands at 39.20% as of December 31, 2024.

Meanwhile, shares of State Bank of India were trading 1% lower at ₹757.80 on the BSE, with a market capitalisation of ₹6.7 lakh crore. During the session so far, the banking heavyweight moved in narrow range, touching an intraday high and low of ₹770.95 and ₹757.50, respectively.