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PremiumSBI Results 2024: State Bank of India (SBI), the state-run largest lender in the country, announced its Q4 results today. SBI reported a net profit of ₹20,698 crore in the fourth quarter of FY24, registering a growth of 24% from ₹16,694.5 crore in the year ago quarter. The PSU lender’s net interest income (NII) in Q4FY24 increased marginally by 3.1% to ₹41,656 crore from ₹40,392.5 crore, year-on-year (YoY). Asset quality of the bank improved during the March quarter as Gross NPA decreased 2.9% and Net NPA declined 6.1% QoQ. SBI also declared a dividend of ₹13.7 per equity share for FY24. SBI share price gained over 3% to hit a fresh 52-week high after its Q4 results beat estimates.
SBI Results 2024: SBI share price ended a percent higher after its Q4 results beat estimates. On BSE, SBI shares gained 1.27% to close at ₹820.70 apiece. During the session, SBI share price rallied up to 3.60% to a 62-week high of ₹839.60 apiece on the BSE.
On NSE, SBI shares ended 1.13% higher at ₹820.00 apiece, after hitting intraday high of ₹839.65 per share.
SBI Results 2024: SBI’s net profit for FY24 stands at ₹61,077 crore witnessing a growth of 21.59% YoY after accounting for wage settlement and one-time exceptional item of ₹7,100 crore. Net Interest Income (NII) for FY24 increased by 10.38% YoY. Operating Profit for FY24 grew by 12.05% YoY to ₹93,797 crore. Whole Bank NIM for FY24 is marginally down by 9 bps YoY to 3.28%, SBI’s ROA and ROE for FY24 stand at 1.04% and 20.32%, respectively.
SBI Results 2024 Live: SBI share price rallied over 3% to hit a 52-week high on Thursday after the PSU lender announced its Q4 results. SBI shares jumped as much as 3.60% to a fresh high of ₹839.60 apiece on the BSE, as the state-run bank’s earnings beat analysts’ estimates in the quarter ended March 2024.
SBI Results 2024 Live: SBI’s credit growth is at 15.24% YoY with Domestic Advances growing by 16.26% YoY. Corporate Advances and Agri Advances cross ₹11 lakh crore and ₹3 lakh crore, respectively. Foreign Offices’ Advances grew by 9.47% YoY. Retail Personal Advances and Corporate loans registered YoY growth of 14.68% and 16.17%, respectively.
Whole Bank Deposits grew at 11.13% YoY, out of which CASA Deposit grew by 4.25% YoY. CASA ratio stands at 41.11% as on 31st March 2024, SBI said.
SBI Q4 Results 2024 Live: Pre-Provisions Operating Profit (PPoP) of SBI for Q4FY24 grew by 16.76% to ₹28,747.55 crore from ₹24,621.11 crore, YoY.
SBI Q4 Results 2024 Live: SBI’s provisions in the March 2024 quarter were at ₹1,609.8 crore as against ₹687.5 crore, QoQ, and versus ₹3,315.7 crore, YoY.
SBI Q4 Results 2024 Live: SBI’s asset quality improved during the quarter ended March 2024. The bank’s Gross Non-Performing Assets (NPA) in Q4FY24 decreased 2.9% to ₹84,276.33 crore from ₹86,748.81 crore in Q3FY24. Net NPA declined 6.1% to ₹21,051.1 crore from ₹22,408 crore, QoQ.
Gross NPA ratio in the March quarter fell 18 basis points (bps) to 2.24% from 2.42%, while Net NPA ratio declined 7 bps to 0.57% from 0.64%, sequentially.
SBI Q4 Results 2024 Live: The Central Board of SBI has declared a dividend of ₹13.70 per equity share (1370%) for the financial year ended 31.03.2024, The record date for determining the eligibility of members entitled to receive dividend on equity shares is Wednesday, May 22, and the dividend payment date is fixed as June 05, 2024.
SBI Results 2024: SBI’s net interest income (NII) in Q4FY24 increased marginally by 3.1% to ₹41,656 crore from ₹40,392.5 crore in the same quarter last year.
SBI Results 2024: SBI reported a net profit of ₹20,698 crore in the fourth quarter of FY24, registering a growth of 24% from ₹16,694.5 crore in the year ago quarter.
SBI Results 2024: SBI reports net profit of ₹20,698 crore in the quarter ended March 2024 as against a profit of ₹16,694.5 crore in the year ago quarter.
SBI Q4 Results 2024 Live: SBI’s deposits at the end of March quarter are expected to rise to ₹49 lakh crore from ₹47.6 lakh crore in the December quarter. The bank’s deposit growth is estimated to be 10% on a YoY basis. SBI’s total loans are expected to reach ₹36.5 lakh crore from ₹35.2 lakh crore in the previous quarter. Loan growth is expected to be 14.1% YoY.
Brokerage firm Prabhudas Lilladher expects SBI’s NII to grow marginally by 0.6% QoQ with loan growth seen at 5.5%. Margins are estimated to fall by 9 bps sequentially. PPoP may decline sharply by 27.7% QoQ on account of one time staff cost of ₹54 billion, said the brokerage. Asset quality in terms of GNPA is expected to improve further by 16 bps.
SBI Results 2024 Live: Elara Capital expects SBI to post strong loan growth of over 16% YoY, largely supported by growth in retail and SME segments. It expects NIM to be steady which will drive NII growth. Opex would see an impact of wage hike revisions and pension hike, which was already highlighted earlier by management. SBI’s asset quality is estimated to hold with sustained improvement across subsegments. Moreover, recovery and upgrades will be robust, which may lead to lower GNPL QoQ. With strong coverage levels, we expect credit cost to be curtailed and lower NNPL, Elara Capital said.
SBI Results 2024 Live: SBI’s sequential loan growth will be in the 3.5% ballpark due to idiosyncratic growth trajectory. NII growth will be slightly slower than average loan growth due to rise in cost of deposits outpacing yield on advances. Consequently, NIM will be slightly lower sequentially. Sequential fee income growth will broadly match loan growth. Opex would be slightly lower sequentially due to de-growth in employee expenses, where wage-related provisions would be lower. Slippages would be broadly stable on a sequential basis. Provisions will rise materially on a sequential basis due to low base in 3Q, Yes Securities said.
SBI Results 2024 Live: SBI’s opex is expected to remain under control and earnings to improve as wage provisions already made in 3QFY24. Expect business growth to remain healthy in Q4. Asset quality to remain broadly stable. Margin to be broadly stable with slight downward bias, said Motilal Oswal.
SBI Results 2024 Live: SBI’s pre-provisions operating profit (PPoP)in Q4FY24 is expected to decline sharply by 40.5% to ₹14,659.5 crore from ₹24,621.1 crore, YoY, on account of one time staff cost of ₹5,400 crore.
SBI Results 2024 Live: SBI’s asset quality in Q4FY24 is expected to remain stable with sustained improvement across subsegments. Moreover, recovery and upgrades are likely to be robust, which may lead to lower Gross Non-Performing Loans (GNPL) sequentially. With strong coverage levels, analysts expect credit cost to be curtailed and lower NNPL.
SBI Q4 Results 2024 Live: SBI share price traded flat ahead of the announcement of Q4 results today. SBI shares opened higher at ₹813.45 apiece as against its previous close of ₹810.40 apiece on the BSE. SBI stock gained nearly 1% to an intraday high of ₹818.40, while it hit a low of ₹807.20.
SBI share price has gained over 11% in the past three months, while the stock is up more than 25% year-to-date (YTD). In one year, SBI shares have risen over 40%.
SBI Q4 Results 2024 Live: SBI’s net interest income (NII) is expected to see a marginal rise during the quarter ended March 2024 amid moderate loan growth. The bank’s NII in Q4FY24 is estimated to be at ₹40,920 crore, registering a growth of 1.30% from ₹40,392.5 crore in the same quarter last year, according to average estimates of six brokerages.
SBI Q4 Results 2024 Live: SBI’s net profit in the quarter ended March 2024 is expected to fall 18% to ₹13,692 crore from ₹16,694.5 crore in the year-ago quarter due to one-time wage revisions, according to average estimates of six brokerages. In the third quarter of FY24, SBI reported a drop of 35% in net profit to ₹9,164 crore.
SBI Q4 Results 2024 Live: SBI is expected to report muted Q4 results with a sharp drop in net profit and a marginal rise in net interest income (NII). SBI’s net profit in the quarter ended March 2024 is expected to fall 18% year-on-year (YoY) due to one-time wage revisions, while the PSU bank’s NII may increase 1.3% YoY amid moderate loan growth, according to average estimates of six brokerages.
SBI Q4 Results 2024 Live: State Bank of India (SBI), the state-run largest lender in the country, is set to announce its earnings for the fourth quarter of FY24 (January-March 2024) today. The board of directors of SBI will meet and release Q4 results today.
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