SBI FY25 Q1 Results:State Bank of India released its first quarter results on Saturday, which ended on June 30. In the June quarter of the current financial year, the net profit of the country’s largest public sector bank SBI remained stable at Rs 17,035 crore. In the same quarter of the previous financial year, the bank’s net profit was Rs 16,884 crore. The total income of the bank has increased to Rs 1,22,688 crore in the June quarter, which was Rs 1,08,039 crore in the same quarter of the previous financial year.
In a communication to the stock market, SBI said that the bank’s interest income in the June quarter has increased to Rs 1,11,526 crore, from Rs 95,975 crore in the same quarter of the last financial year. The bank’s gross NPA declined to 2.21 per cent of total advances in the first quarter, from 2.76 per cent at the end of June last year. Similarly, its net NPA also declined to 0.57 per cent in June 2024, from 0.71 per cent a year ago.
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SBI’s net profit on a standalone basis rose marginally to Rs 19,325 crore in the June quarter from Rs 18,537 crore in the same quarter of the previous fiscal. At the same time, its total income increased to Rs 1,52,125 crore in the June quarter from Rs 1,32,333 crore in the same period of the previous fiscal. The board also approved proposals to raise funds in rupees or dollars by issuing Basel-3 compliant additional tier-1 bonds and tier-2 bonds up to Rs 25,000 crore to domestic or foreign investors during the current financial year (2024-25). The bank said that the process of raising funds will be subject to the approval of the central government wherever necessary.
