SBI Q3 Results. (Representative picture)
SBI Q3 Results: State Bank of India’s web curiosity revenue (NII) throughout October-December 2023 elevated 4.59 per cent to Rs 39,815 crore
State Bank of India (SBI), the nation’s largest financial institution, on Saturday reported a 35 per cent decline in its web revenue to Rs 9,164 crore for the third quarter ended December 2023. Its web curiosity revenue (NII) throughout October-December 2023 elevated 4.59 per cent to Rs 39,815 crore.
The state-owned lender’s web revenue had stood at Rs 14,205 crore throughout the corresponding quarter final 12 months.
The financial institution’s whole revenue rose to Rs 1,18,193 crore within the third quarter of the continuing fiscal as towards Rs 98,084 crore in the identical interval a 12 months in the past, the financial institution stated in a regulatory submitting. During the quarter, the financial institution earned curiosity revenue of Rs 1,06,734 crore as towards Rs 86,616 crore in the identical interval a 12 months in the past.
The financial institution’s gross Non-Performing Assets (NPA) of the whole advances declined to 2.42 per cent at December-end from 3.14 per cent on the finish of the third quarter of final 12 months. Similarly, web Non-Performing Assets (NPAs) additionally eased to 0.64 per cent towards 0.77 per cent on the finish of the identical interval a 12 months in the past.
On a consolidated foundation, SBI Group’s web revenue slipped 29 per cent to Rs 11,064 crore as towards Rs 15,477 crore in the identical quarter a 12 months in the past. However, whole revenue elevated to Rs 1,53,072 crore as in comparison with Rs 1,27,219 crore within the first quarter of the earlier fiscal. During the quarter underneath overview, the financial institution acquired all the 20 per cent stake held by SBI Capital Markets Ltd (SBICAPS) in SBI Pension Funds Pvt Ltd.
With this, the financial institution’s stake in SBI Pension Funds Pvt Ltd has elevated from 60 per cent to 80 per cent, it stated, including that the consideration paid for the transaction is Rs 229.52 crore.
Shares of State Bank of India on Friday closed at Rs 650.4 apiece on the BSE.
