SBI PAT up 24% on higher income, lower provisions
FinancialExpress | May 10, 2024 6:15 AM CST
State Bank of India (SBI) on Thursday reported a 24% year-on-year (y-o-y) rise in its net profit for the quarter ended March at `20,698 crore, led by higher other income and lower provisions. The net profit was sharply higher than a Bloomberg estimate of Rs 13,440 crore. The board of the of country’s largest lender, at its meeting held on Thursday, also declared a dividend of Rs 13.70 per equity share for FY24. SBI’s shares ended 1.1% higher at Rs 819.65 on the BSE on Thursday. SBI’s other income — which includes third party service commissions, treasury income and loan processing ...
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