SBI Reports 9.13% Growth in Q2 Consolidated Net Profit, Reaches Rs 16,099 Crore

Mumbai, Nov 4 : State Bank of India (SBI), the largest lender in the country, posted a notable 9.13 percent growth in consolidated net profit for the September quarter, reaching Rs 16,099.58 crore.

In the corresponding period of the previous year, the state-run bank had reported a consolidated net profit of Rs 14,752 crore, and in the June quarter, it recorded a net profit of Rs 18,356 crore.

On a standalone basis, SBI achieved a net profit of Rs 14,330.02 crore, compared to Rs 13,264.52 crore in the same period last year.

SBI, with a commanding presence in the market and an extensive nationwide network, reported a total income exceeding Rs 1.12 lakh crore for the reviewed quarter, a substantial increase from the Rs 88,733 crore reported in the same period of the previous year.

In terms of asset quality, SBI demonstrated an improvement with a gross non-performing assets (NPA) ratio of 2.55 percent as of September 30, marking a decline from 3.52 percent in the year-ago period and 2.76 percent in the first quarter of the current fiscal year.

The bank’s overall capital adequacy stood at 14.28 percent as of September 30.