New Delhi : State Bank of India is also included in the most important banks of the country. On Saturday, State Bank of India has released the results of the first quarter of the financial year 2024-25. On the basis of these results, it has been found that in the first quarter of the financial year 2024-25 i.e. from April to June, SBI has had a stable business of Rs 17,035 crore. In the first quarter of the last financial year also, SBI had a net profit of Rs 16,884 crore.
SBI said in a notice to the stock exchange on Saturday that its total income has increased to Rs 1,22,688 crore in the June quarter, which was Rs 1,08,039 crore in the same quarter of the last financial year. The bank's interest income has increased to Rs 1,11,526 crore in the quarter under review, which was Rs 95,975 crore in the same quarter of the last financial year.
Net NPA reduced in June 2024
The bank's gross non-performing assets (NPAs) declined to 2.21 per cent of total advances in the first quarter from 2.76 per cent at the end of June last year. Similarly, its net NPA also declined to 0.57 per cent in June, 2024 from 0.71 per cent a year ago.
increased marginally on a consolidated basis
SBI's net profit rose marginally to Rs 19,325 crore on a consolidated basis in the June quarter from Rs 18,537 crore in the same quarter of the previous fiscal. At the same time, its total income rose to Rs 1,52,125 crore in the June quarter from Rs 1,32,333 crore in the same period of the previous fiscal.
The process of raising funds is under the Central Government
The board also approved proposals to raise funds in rupees or dollars by issuing Basel-3 compliant additional tier-1 bonds and tier-2 bonds up to Rs 25,000 crore to domestic and/or foreign investors during the current financial year (2024-25). The process of raising funds will be subject to the approval of the central government, wherever required, the bank said.
The biggest bank
Let us tell you that State Bank of India is one of the oldest and largest banks in India. On 4 September 2022, State Bank of India became the third lender (after HDFC Bank and ICICI Bank) and the seventh Indian company to cross Rs 5 trillion market capitalization on Indian stock exchanges for the first time.
(With agency input)
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