Total income increased 20.5% year on year (YoY) to Rs 1,18,192.68 crore in the quarter ended 31 December 2023.

Profit before tax in Q3 FY24 stood at Rs 12,548.23 crore, a decrease of 35.51% from Rs 19,458.71 crore in Q3 FY23.

Net interest income rose 4.59% to Rs 39,816 crore in Q3 FY24 as compared with Rs 38,069 crore in Q3 FY23. Net interest margin (domestic) reduced by 35 bps to 3.34% in Q3 FY24 as against 3.69% in Q3 FY23.

Operating profit declined 19.36% YoY to Rs 20,336.08 crore in the quarter ended 31 December 2023 as compared with Rs 25,219.28 crore posted in corresponding quarter last year.

Total deposits grew 13.02% to Rs 47,62,221 crore as on 31 December 2023 as against Rs 42,13,557 crore as on 31 December 2022, out of which CASA Deposit grew by 4.48% YoY. CASA ratio slipped 330 bps to 41.18% as on 31 December 2023.

The bank's return on assets (ROA) for the quarter stood at 0.62% as against 1.08% in Q3 FY23.

Provision coverage ratio (PCR) reduced by 195 bps YoY at 74.17%. PCR (including AUCA) stood at 91.49%.

The bank's gross non-performing assets (NPAs) slipped to Rs 86,748.81 crore as on 31 December 2023 as against Rs 98,346.50 crore as on 31 December 2022.

The ratio of gross NPAs to gross advances stood at 2.42% as on 31 December 2023 as against 3.14% as on 31 December 2022.

The ratio of net NPAs to net advances stood at 0.64% as on 31 December 2023 as against 0.77% as on 31 December 2022.

The bank's credit growth stood at 14.38% YoY. Domestic advances grew at 14.47% YoY and Foreign Offices' advances rose by 13.90% YoY.

Capital Adequacy Ratio (CAR) as at the end of Q3 FY24 reduced by 22 bps YoY and stands at 13.05%, slippage ratio was at 0.58%, improved by 17 bps YoY while credit cost remainde flat YoY to 0.21%.

State Bank of India (SBI) is an Indian multinational, public sector banking and financial services statutory body. As of 31 December 2023, the Government of India held 57.49% stake in the bank.

The scrip declined 0.37% to currently trade at Rs 648 on the BSE.