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State Bank of India (SBI), the largest lender in the country, has announced its quarter 4 results today, May 9, 2024. The leading public sector bank has witnessed a 24 per cent increase in its net profit for the quarter ending March 31, 2024.

SBI Q4 Results 2024: Net ProfitThe bank recorded a net profit of Rs. 20,698 crore. The current net profit is up from Rs 16,695 crore in the same period last year.

SBI Q4 Results 2024: Reason Of Increase In Net ProfitAs per the preliminary information available, the rise in net profit highlights a strong demand for loans.

SBI Q4 Results 2024: Analysts' ExpectationsPrior to the announcement of the quarter result by the State Bank of India, the analyst expected an estimated profit of Rs 13,400 crore. This surge in profit has surpassed analysts' expectations.

SBI Q4 Results 2024: Dividend Announcement SBI has declared a dividend of Rs. 13.70 per share for the financial year 2023-24.

SBI Share PriceOn May 9, SBI's shares were trading nearly 3 per cent higher at Rs. 834.40 apiece.

SBI Q4 Results: GNPAMoreover, SBI has shown significant improvement in its asset quality during the March quarter. The gross non-performing asset (GNPA) ratio reduced to 2.24 per cent, down from 2.78 per cent last year, while the net NPA ratio decreased to 0.57 per cent from 0.67 per cent in the previous year.

SBI Q4 Results 2024: Earnings From InterestSBI's interest earned also witnessed a substantial increase, growing by nearly 20 per cent to Rs. 1.11 lakh crore in the reported quarter, compared to Rs. 92,951 crore a year ago.

SBI Q4 Results 2024: LoanThe bank's loan growth is one of the best growth rates in over eight quarters. Additionally, SBI achieved a remarkable feat with a 36-quarter low in the ratio between gross and net NPAs.

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