Thu Feb 06 12:27:05 UTC 2025: ## SBI’s Q3 Profit Soars 84% on Strong Loan Growth

**Mumbai, India** – State Bank of India (SBI), India’s largest state-owned lender, announced a significant jump in its net profit for the third quarter of fiscal year 2024-25 (Q3 FY25). The bank reported a net profit of Rs 16,891.44 crore, an 84.3% increase compared to Rs 9,163.96 crore in the same period last year.

This strong performance was driven by a 14% year-on-year (YoY) growth in loans and a 10% YoY increase in deposits. Net interest income also rose to Rs 41,446 crore, up from Rs 39,816 crore a year earlier. While gross non-performing assets (NPAs) improved to 2.07% of total advances from 2.13% in the previous quarter, net NPAs remained flat at 0.53%.

Despite a significant increase in provisioning (from Rs 911 crore to Rs 4,506 crore QoQ), SBI’s domestic net interest margin saw a marginal increase to 3.15% from 3.14% in the previous quarter.

The positive results initially boosted SBI’s share price, but it ultimately closed at Rs 752.25 apiece on the Bombay Stock Exchange (BSE), slightly down from the day’s high.

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