On May 3, State Bank of India Ltd. (SBI), the biggest lender in the nation, reported a 10% decline in its fourth-quarter standalone net profit, coming in at Rs 18,643 crore. From January to March of 2023–2024, SBI made a profit of Rs 20,698 crore. For FY25, the board of the bank has announced a dividend of Rs 15.90 per equity share. In a regulatory statement, SBI stated that the overall revenues for the March quarter was Rs 1,43,876 crore, up from Rs 1,28,412 crore during the same period last year.
During the quarter, the bank earned an interest income of Rs 1,19,666 crore as against Rs 1,11,043 crore a year ago.
The lender saw an improvement in asset quality, with gross non-performing assets (NPAs) declining to 1.82% of the total advances in the fourth quarter from 2.24 % as at March-end 2024. Similarly, net NPAs eased to 0.47 per cent as against 0.57 per cent.
On a consolidated basis, SBI's net profit in the quarter fell 8 per cent to Rs 19,600 crore as against Rs 21,384 crore in the same period a year ago. Total income, however, increased to Rs 1,79,562 crore from Rs 1,64,914 crore.
Besides, the board has approved raising equity capital of up to Rs 25,000 crore (including share premium) in one or more tranches during 2025-26 through Qualified Institutional Placement (QIP)/ Follow on Public Offer (FPO) or any other mode.
SBI Chairman CS Setty said, "Though the Indian economy is less impacted by tariffs, the uncertainty over tariffs will impact the economy and investment scenario."
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