The country’s largest public sector bank, State Bank of India (SBI), has made a net profit (standalone net profit) of Rs 18,331 crore in the second quarter of the financial year 2024-25. It has increased by 28% on an annual basis. A year ago, in the second quarter of the financial year 2023-24, the company had made a profit of Rs 14,330 crore. The bank’s total income increased by 15.13% In the July-September quarter, the bank’s total income increased by 15.13% year-on-year to Rs 1,29,141 crore, which was Rs 1,12,169 crore in the same quarter last year. It has increased by 5.26% as compared to the previous quarter. The bank’s income in April-June was Rs 1,22,687 crore. Net interest income decreased by 5% SBI’s net interest income (NII) decreased by 5% on a year-on-year (YoY) basis to Rs 39,500 crore in the July-September quarter. It was Rs 41,620 crore in the same quarter last year. It has also decreased by 4% as compared to the April-June quarter. It was Rs 41,125 crore in Q1. The amount not returned becomes NPA If the loan or advance given by the bank is not returned on time, the bank declares that amount as NPA or non-performing asset. Generally, in case of not getting returns for 90 days, the bank puts the loan or advance amount in the list of NPA. What is standalone and consolidated? The results of companies come in two parts – standalone and consolidated. In standalone, the financial performance of only one unit is shown. Whereas, in consolidated or consolidated financial report, the report of the entire company is given. SBI stock gave 45% return in one year. After the results, the stock of State Bank of India has fallen by more than 2%. At 2:35 pm, it is trading at 840 level, down by 2.47%. The stock of the company has given a return of 7.87% in the last one month, 3.97% in 6 months and 45.26% in one year. The stock of SBI has risen by 31.43% this year i.e. from 1 January till now. The market cap of the bank is Rs. 7.51 lakh crores. SBI is the largest government bank of the country. SBI State Bank of India is the largest government bank of the country. The government has 57.59% stake in SBI. It was established on 1 July 1955. The headquarter of the bank is in Mumbai. The bank has more than 22,500 branches and more than 50 crore customers. The bank operates in 29 countries of the world. It has 241 branches outside India.
