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SBI Bank Q4FY24 Results: In the fourth quarter (January-March) of the financial year 2023-24, the profit of State Bank of India has increased by 23.98% year-on-year to ₹ 20,698 crore. The public sector bank had registered a net profit of ₹16,695 crore in the same quarter a year ago.

The board of SBI has recommended dividend payment of Rs 13.70 per share. Shareholders eligible for the dividend will be determined on the basis of their ownership as on May 22, 2024. Dividend payment will be on June 5, 2024.

Share lifetime high after good results (SBI Bank Q4FY24 Results)

After the results, State Bank shares closed at Rs 820 with a gain of Rs 9.20 or 1.13%. The stock also made a lifetime high of Rs 839.65. SBI shares have increased by about 40% in the last 6 months. So far this year, this stock has given a return of about 28 percent.

Interest income increased by 19.46% to Rs 6,909 crore

In the fourth quarter, the bank's interest income increased by 19.46% year-on-year to ₹1,11,043 crore. It was Rs 92,951 crore in the same quarter last year.

Whereas in the last quarter (Q3FY24) the bank had earned ₹1,06,734 crore from interest. That means the company's net interest income has increased by 4.03% on quarterly basis (QoQ).

Amount not returned becomes NPA

If the loan or advance given by the bank is not returned on time, then the bank declares that amount as NPA or non-performing asset. Generally, if returns are not received for 90 days, the bank puts the loan or advance amount in the NPA list.

SBI is the largest bank in the country

State Bank of India is the largest government bank in the country. Government has 56.92% stake in SBI. It was established on 1 July 1955. The headquarters of the bank is in Mumbai. It has more than 22,405 branches and more than 48 crore customers and has a market share of one-fourth. The bank operates in 29 countries of the world. It has 235 branches outside India.