State Bank of India Q1 results: Here are the five key highlights

State Bank of India's Net Interest Income (NII) in the reporting quarter surged 24.72 percent on-year to Rs 38,905 crore

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26 Aug, 2025 12:21

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The country's largest lender State Bank of India (SBI) on August 4 reported healthy growth in its April-June quarter earnings numbers, backed by improvement in asset quality and increase in net interest income.

Here are the top five takeaways from the lender's Q1 FY24 earnings:

Strong net profit

SBI reported a 178 percent rise in net profit to Rs 16,884 crore for the April-June quarter.

In the corresponding period last year, the lender had reported Rs 6,068 crore.

On a sequential basis, net profit of the company rose 1.14 percent.

Also read: State Bank of India Q1 Results: Net profit grows 178% to Rs 16,884 crore, asset quality improves

Net interest income

Net Interest Income (NII) of the bank in the reporting quarter surged 24.72 percent on-year to Rs 38,905 crore. However, on a quarterly basis, it fell 3.68 percent.

Net interest income is the difference between interest earned and interest expended.

Domestic net interest margins (NIM) for Q1FY24 increased by 24 basis points (bps) on-year to 3.47 percent.  One basis point is one hundredth of percentage point.

However, compared to the previous quarter, NIM shrunk 11 bps.

Asset quality

There has been improvement in asset quality, with gross non-performing asset (NPA) improving to 2.76 percent as on June 30, as compared to 2.78 percent as on March 31, and 3.91 percent as on June 30, 2022.

Similarly, net NPA improved to 0.71 percent as on June 30, as compared to 1.00 percent as on June 30, 2022.

In absolute terms, gross NPA stood at Rs 91,328 crore as on June 30, which is down 19.37 percent on-year. However, on a sequential basis, it rose marginally by 0.44 percent.

Net NPA of the bank stood at Rs 22,995 crore as on June 30, which was down 18.62 percent, and 7.12 percent on-quarter.

Provision Coverage Ratio (PCR) stood at 74.82 percent as on June 30, down by 23 bps on-year.

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Advances jump

In the reporting quarter, total whole bank advance of the state-owned lender rose 13.90 percent on-year to Rs 33.04 lakh crore.

Domestic Advances and Foreign Offices Advances grew 15.08 percent and 7.44 percent on-year, respectively.

The small and medium enterprise book of the lender rose 18.27 percent on-year to Rs 3.7 lakh crore, and retail personal loan grew 16.46 percent on-year to Rs 12.04 lakh crore.

Yield on advances in April-June quarter seen a sharp rise with domestic yield on advances at 8.78 percent as on June 30, from 7.43 percent in the year-ago period.

Similarly, foreign offices advances' yield rose to 5.89 percent as on June 30, as compared to 1.98 percent year ago.

Deposits

Total deposits of the bank rose 12 percent on-year to Rs 45.31 lakh crore in April-June quarter.

In the corresponding quarter last year, it stood at Rs 40.46 lakh crore.

Foreign offices' deposit grew 22.74 percent on-year to Rs 1.79 lakh crore and domestic deposits rose 11.60 percent on-year to Rs 43.52 lakh crore.

CASA Deposit grew by 5.57 percent on-year, while CASA ratio stood at 42.88 percent as on June 30.