New Delhi, Nov 8 (IANS) The State Bank of India (SBI), India’s largest public sector lender, on Friday reported 27.92 per cent growth (year-on-year) in net profit at Rs 18,331 crore in the July-September quarter (Q2 FY25). The operating profit grew by 50.87 per cent to Rs 29,294 crore (year-on-year). The SBI’s Return on Assets (ROA) and Return on Equity (RoE) for the half year (H1 FY25) stood at 1.13 per cent and 21.78 per cent, respectively.

According to the SBI, its net interest income (NII) for Q2 FY25 increased by 5.37 per cent YoY. "Gross NPA ratio stood at 2.13 per cent and improved by 42 bps YoY while net NPA ratio at 0.53 per cent improved by 11 bps YoY," said the bank in its financial result. In the quarter, the credit growth came at 14.93 per cent with domestic advances growing by 15.55 per cent YoY. The lender had Rs 51,17,284 crore as total deposits in the September quarter, a 9.13 per cent growth compared to Rs 46,89,218 crore in the September quarter last fiscal.

While domestic Current Account Saving Account (CASA) deposits grew 4.24 per cent, domestic term deposits grew 12.51 per cent. CASA ratio stood at 40.03 per cent (as on September 30). According to the SBI, SME and retail personal advances loans registered YoY growth of 17.36 per cent and 12.32 per cent, respectively, in the quarter. While 61 per cent of SB accounts were acquired digitally through the YONO digital banking platform, the share of alternate channels in total transactions increased from 97.7 per cent in H1 FY24 to 98.2 per cent in H1 FY25.

According to the bank, Slippage Ratio for H1 FY25 improved by 2 bps YoY and stood at 0.68 per cent. Slippage Ratio for Q2 FY25 increased by 5 bps YoY and stood at 0.51 per cent. Capital Adequacy Ratio (CAR) as at the end of Q2FY25 stood at 13.76 per cent. The stock of SBI was down 2.3 per cent at Rs 839.70 apiece during the intra-day trade.

/ IANS