Fri Feb 07 02:37:54 UTC 2025: **SBI Reports 83% YoY Surge in Q3 Net Profit, Despite Slight QoQ Dip**

**Mumbai, February 6, 2025** – State Bank of India (SBI), India’s largest state-run lender, announced a strong 83% year-on-year (YoY) jump in its standalone net profit for the quarter ending December 2024 (Q3 FY25), reaching ₹16,891 crore. However, the profit saw a 7.8% quarter-on-quarter (QoQ) decline from the ₹18,331 crore reported in Q2 FY25.

The bank’s net interest income (NII) for Q3 increased by 4% YoY to ₹41,445.51 crore, though it remained relatively flat compared to the previous quarter. Credit growth remained robust, with overall growth at 13.49% YoY, driven by strong performance in domestic advances (14.06% YoY), SME advances (18.71% YoY), and agricultural advances (15.31% YoY). The bank also highlighted a significant increase in digital account acquisitions, with 64% of SBI accounts acquired through its YONO platform.

Asset quality improved, with gross non-performing assets (NPAs) falling to 2.07% from 2.42% YoY and 2.13% QoQ. Net NPAs also decreased to 0.53%. The bank’s Capital Adequacy Ratio (CAR) stood at a healthy 13.03%.

Despite the strong profit announcement, SBI shares closed 1.79% lower at ₹752.35 on the BSE. Analysts had varying expectations for the results, with some predicting a higher YoY growth but a significant QoQ decline. The bank’s Return on Assets (ROA) for the quarter was 1.04%, up 42 bps YoY. The ROA and ROE for 9MFY25 stood at 1.09% and 21.46%, respectively.

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