SBI Bank Q2 results FY25 disclosed a 27.92% year-on-year increase in the net profit. On the SBI Q2 results 2024 date which was November 8, 2024, the SBI share price opened at ₹859.60. On November 8, 2024, SBI share price closed with a fall at ₹843.15.
SBI Bank Q2 Results FY25: Key Highlights
- SBI Bank Q2 results pointed out that net profit rose by 27.92% YoY to ₹18,331 crores in Q2 FY25.
- The bank’s credit growth stood at 14.93% YoY with domestic advances growing at 15.55% YoY and foreign offices’ advances rose by 11.56% YoY.
- Total deposits grew 9.13% to ₹51,17,285 crores as on 30 September 2024 as against ₹46,89,218 crores as on 30 September 2023, out of which CASA Deposit grew by 4.24% YoY. CASA ratio slipped 185 bps to 40.03% as on September 2024.
- Net interest income rose 5.37% YoY to ₹41,620 crores in September 2024 quarter as mentioned in the SBI Bank Q2 results.
- Net interest margin (domestic) reduced by 16 bps to 3.27% in Q2 FY25 as against 3.43% in Q2 FY24.
- Operating profit climbed 50.87% to ₹29,294 crores in Q2 of FY25 as compared with ₹19,417 crores posted in the corresponding quarter last year.
- SBI share price generated negative returns of 1.92% in the last 1 day as on November 8, 2024.
SBI Q2 Results 2024: Other Performance Metrics
- SBI Bank return on assets (ROA) for the quarter stood at 1.17% as against 1.01% in Q2 FY24.
- As per the SBI Bank Q2 results, the Provision coverage ratio (PCR) improved by 21 bps YoY to 75.66%. PCR (including AUCA) stood at 92.21%, up 28 bps YoY.
- The ratio of gross NPAs to gross advances stood at 2.13% as on September 2024 as against 2.55% as on September 2023.
- The ratio of net NPAs to net advances stood at 0.53% as on SBI Q2 results 2024 as against 0.64% as on 30 September 2023.
- Capital Adequacy Ratio (CAR) as at the end of Q2 FY25 reduced by 52 bps YoY and stands at 13.76%, slippage ratio was at 0.51%, up by 5 bps YoY while credit cost rose 16 bps to 0.38%.
Highlighting the SBI share price performance, it has generated a positive return of 2.67% in the last 1 week (as on November 8, 2024). Keep exploring stocks and open demat account with SMC Global Securities. Stay tuned for the upcoming Nifty 50 companies quarterly results.
References
https://www.smctradeonline.com/research/equity-analysis/242
https://economictimes.indiatimes.com/state-bank-of-india/stocks/companyid-11984.cms
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