SBI Q2 Results: Net profit rises 8% YoY to ₹14,330 crore, net interest income grows 12.3%
SBI Q2 Results: India's largest commercial bank, State Bank of India (SBI) released its July-September quarter results on Saturday. SBI reported 8% year-on-year jump in the net profit as it grew from ₹13,264.5 crore in Q2FY23 to ₹14,330 crore in the quarter under review.
The net interest income (NII) of the State Bank of India jumped 12.3% compared to the same period last year, reaching ₹39,500 crore. Additionally, there was a 21.6% growth in other sources of income, bringing it to ₹10,790 crore.
The operating profit of the bank declined 8.07% during the quarter to ₹19,417 crore, while SBI return on assets (ROA) stood at 1.01% during the quarter, a 3 bps decline. State Bank of India's Gross Non-Performing Assets (GNPA) witnessed an improvement of 97 bps year-year-year to 2.55% while the Net NPA improved 16 bps to 0.64%.
Read more on livemint.com
