SBI's net profits soar 28% in July-September quarter

New Delhi [India], November 8 : State Bank of India on Friday reported that its net profits or profit after tax in the July-September quarter rose 27.92 per cent to Rs 18,331 crore.

April-June and July-September quarters combined, the lender's net profit rose 13.30 per cent to Rs 36,367 crore.

SBI's net interest income rose 5.37 per cent to Rs 41,620 crore in the September quarter. Both quarters combined, it grew 5.54 per cent to Rs 82,745 crore.

Its credit growth grew at 14.93 per cent year-on-year to Rs 39.21 lakh crore, with domestic advances growing by 15.55 per cent year-on-year.

SME and retail personal advances loans registered year-on-year growth of 17.36 per cent and 12.32 per cent, respectively.

The lender's gross NPA ratio was at 2.13 per cent, improving by 42 basis points year-on-year in the September quarter.

The lender said that the Profit per Employee and Business per Employee showing a continuous increase, reflecting increased productivity. The total number of employees stood at 2.34 lakhs. The attrition rate of 0.38 per cent (annualised) has been reported during H1-2024-25.

At the time of filing this report, shares of SBI were trading at 837.45 points, down 2.58 per cent.

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