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State Bank of India (SBI), the country’s largest government bank, has received a net profit of Rs 16,891.44 crore in the third quarter of FY 2024-25.
It has increased by 84.32% on an annual basis. A year ago, the bank made a profit of Rs 9163.96 crore in the third quarter of FY 2023-24.
Bank’s total income increased by 15.13%
In the October-December quarter, the bank’s total income increased by 8.69% to Rs 1,28,467.39 crore on an annual basis. It was Rs 1,18,192.68 crore in the same quarter of last year. It has been reduced to -0.52% as compared to the previous quarter. The total income of July-September Bank was Rs 1,29,141.11 crore.
Net interest income increased by 4%
SBI’s net interest income (NII) i.e. net interest income increased by 4% to Rs 41,445.51 crore in the October-December quarter. It was Rs 39,815.73 crore in the same quarter of last year. It was Rs 41,619.54 crore in the July-September quarter. There has been no major change on a quarterly basis.
What is standalone and consolidated?
Companies’ results come in two parts- Standalone and Consolidated. Standalone shows only one segment or financial performance of the unit. Whereas, the entire company reports are given in the consolidated or consolidated financial report.
SBI is the largest government bank in the country
SBI is the largest government bank in the state State Bank of India. The government has 57.59% stake in SBI. It was established on 1 July 1955. The bank is headquartered in Mumbai. At the same time, the bank has more than 22,500 branches and more than 50 crore customers. The bank works in 29 countries of the world. It has 241 branches outside India.
