SBI’s fourth-quarter net profit increased by 83% to Rs 16,695 billion
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sysAdmin
- . May 18, 2023
- . Update: May 18, 2023 9:20 pm
The board has proposed a dividend of Rs. 11.30 per equity share for FY23, which will be paid on June 14 due to SBI’s fourth-quarter results.
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On May 18, the State Bank of India (SBI) announced a standalone profit of Rs 16,694.51 crore for the quarter ending in March, an increase of 83.18 percent from Rs 9,113.53 crore in the corresponding quarter the year prior.
The largest lender in India reported a net interest income of Rs 40,392.50 crore, up 29.5% from Rs 31,197 crore in the same quarter last year.
According to a survey of brokerages conducted by Money control, the State Bank of India was predicted to report a 68 percent increase in profit over the prior year. While a 25.8% increase in net interest income (NII) was anticipated.
For FY23, the bank’s board suggested a dividend of Rs 11.30 per equity share. The bank stated that it would be paid on June 14, 2023.
The lender reported that for the fiscal year of 2023, the bank’s return on assets (ROA) and equity (ROE) were 0.96 percent and 19.43 percent, respectively. ROA for the quarter increased by 49 bps year over year to 1.23 percent.
A 44 basis point YoY increase in domestic net interest margin (NIM) was recorded in the fourth quarter of FY23.
According to SBI, its Gross NPA ratio was 2.78 percent, down 119 bps year over year.
The net NPA ratio was 0.67 percent, a 35 bps YoY decrease. Provision Coverage Ratio (PCR) increased by 135 bps year over year to 76.39 percent. The slippage Ratio for FY23 increased by 34 basis points year over year and was 0.65 percent, while Slippage
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The ratio was 0.41 percent in Q4FY23.
The stock was down 0.88 percent on BSE at Rs 581.35 as of 2:18 PM. Our eyes is on it!
