SBI Q4 results: Profit up 24% at Rs 20,698 crore; stock rises 3%

State Bank of India (SBI), the country's largest lender by assets, on Thursday reported a 23.98 per cent rise in its fourth-quarter (Q4 FY24) profit, at Rs 20,698 crore, from Rs 16,695 crore a year ago.

The lender's interest earned grew 19.46 per cent to Rs 1.11 lakh crore during the quarter under review.

On balance sheet, credit growth came at 15.24 per cent (YoY) in Q4 FY24 with domestic advances growing by 16.26 per cent. Whole bank deposits grew at 11.13 per cent YoY, out of which CASA deposit grew by 4.25 per cent. SBI's CASA ratio stands at 41.11 per cent as on March 31, 2024.

In terms of asset quality, gross NPA (non-performing asset) ratio came at 2.24 per cent, an improvement of 54 basis points (bps) on a yearly basis. Net NPA ratio, at 0.57 per cent, improved by 10 bps YoY.

The lender's capital adequacy ratio (CAR) as at the end of FY24 stands at 14.28 per cent.

SBI's operating profit for FY24 grew by 12.05 per cent YoY to Rs 93,797 crore; while operating profit for Q4 FY24 grew by 16.76 per cent YoY to Rs 28,748 crore.

The bank's ROA and ROE for FY24 stand at 1.04 per cent and 20.32 per cent, respectively.

SBI shares saw a decent uptick after the quarterly results and were last seen trading 2.92 per cent higher at Rs 834.05.

On BSE, around 10.54 lakh shares were last seen changing hands today. The figure was higher than the two-week average volume of 8.64 lakh shares.

Turnover on the counter came at Rs 86.62 crore, commanding a market capitalisation (m-cap) of Rs 7,36,548.22 crore.