Blitz Bureau
New Delhi: State Bank of India (SBI) on August 3 reported a standalone net profit of Rs 17,035 crore for the April-June quarter of 2024-25 which was a mere 0.9 per cent increase over the corresponding figure of Rs 16,884.3 crore for the same quarter of the previous year.
The asset quality of the country’s largest lender showed some improvement with its gross non-performing assets (NPA) ratio of the bank at 2.21 per cent of total loans as of June 30, as compared to 2.76 per cent as of June 30, 2023, according to an SBI statement.
Net NPA of the bank stood at 0.57 per cent as of June 30, as against 0.71 per cent as of June 30, 2023.
In absolute terms, gross NPAs came down to Rs 84,226.04 crore as on June 30, from Rs 91,327.84 crore as on June 30, 2023. The Net NPA fell to Rs 21,554.69 crore as of June 30, from Rs 22,995.37 crore as of June 31, 2023. The slippage ratio of bad loans for Q1FY25 improved by 0.1 per cent at 0.84 per cent.
The deposits of the public sector bank increased 8.18 per cent to Rs 49.02 lakh crore during the first quarter from Rs 45.31 lakh crore in the same quarter of the previous year, according to the statement.
