SBI said on Friday that its consolidated net profit for the quarter ending September 30, 2024, increased by 23% year over year to Rs 19,782 crore.For the same time last year, the combined net profit was Rs 16,099 crore. The biggest lender in the nation declared a net profit of Rs 18,331 crore on an individual basis, compared to Rs 14,330 crore in the previous year and Rs 17,035 crore in the previous quarter. Following a change in leadership, with C. S. Setty becoming chairman in August, the bank’s overall revenue increased from Rs1.12 lakh crore to Rs1.29 lakh crore.
The total amount spent increased from Rs92,752 crore in the previous year to Rs99,847 crore in the current quarter. The gross non-performing assets ratio was 2.13 percent as of September 30 compared to 2.21 percent in June, and provisions for bad assets almost quadrupled to Rs 3,631 crore from Rs 1,814 crore.
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