In This Article:
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Net Profit: INR16,891 crores, up 84% year-on-year.
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Whole Bank Credit Growth: 13.49% year-on-year.
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Domestic Credit Growth: 14.06% year-on-year.
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CD Ratio: 68.94%.
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Slippage Ratio: 0.39%.
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Retail Personal Slippage Ratio: 0.32%.
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Credit Cost: 0.24%.
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PCR (Provision Coverage Ratio): 74.66%.
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Total Deposits Growth: 9.81% year-on-year to INR52.29 trillion.
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Term Deposits Growth: 13.47% year-on-year.
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Current Account Deposits Growth: 14.22% year-on-year.
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CASA Growth: 4.46% year-on-year with a CASA ratio of 39.2%.
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Domestic Advances Growth: 14.06% year-on-year.
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SME Growth: Over 18%.
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Agriculture Growth: 15%.
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Corporate Growth: 15%.
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Retail Personal Segment Growth: 11.6%.
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Foreign Offices Advances Growth: 10.35% year-on-year.
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Net NPA Ratio: Improved by 11 basis points year-on-year to 0.53%.
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Capital Adequacy Ratio (CAR): 13.03% without considering clawback of profits; 14.5% including profits for nine months.
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CET1 Ratio: 10.99% including profits for nine months.
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ROA (Return on Assets): Greater than 1%.
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ROE (Return on Equity): Greater than 20%.
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Total Assets: INR66.1 lakh crores.
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Total Advances: INR40.68 lakh crores.
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Total Deposits: INR52.29 lakh crores.
Release Date: February 06, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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State Bank of India (SBKFF) reported a significant year-on-year net profit increase of 84% for Q3 FY25, reaching INR16,891 crores.
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The bank maintained a strong asset quality with a slippage ratio of 0.39% and a credit cost of 0.24%, indicating robust risk management.
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Domestic credit growth was strong at 14.06% year-on-year, with notable growth in SME (18%), agriculture (15%), and corporate (15%) segments.
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The bank's digital banking platform, YONO, saw substantial engagement, with over 8.5 crore customers registered and 64% of regular savings accounts opened through it in Q3 FY25.
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State Bank of India (SBKFF) achieved a healthy capital adequacy ratio of 13.03%, which would increase to 14.5% when including profits for nine months, indicating a strong capital position.
Negative Points
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Operating profit decreased significantly from INR29,294 crore in the previous quarter to INR23,551 crore, primarily due to trading losses and Forex losses.
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The bank's margins dropped by 13 basis points sequentially, driven by increased cost of deposits and lower treasury gains.
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There was a slowdown in the growth of express credit, with GNPAs in this segment increasing from 0.77% in March '24 to 1.11% as of Q3 FY25.
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The SMA-2 numbers increased substantially to INR7,424 crores from INR1,840 crores, although this was attributed to one major account that has since been regularized.
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The bank's cost of resources increased, impacting margins, and there is a concern about maintaining deposit growth without engaging in a rate war.