State Bank of India Q4 2023 earnings top analyst forecasts with net profit ahead by 83.2% y-o-y to INR167bn ($2.04bn).
The quarterly net profit for the lender for the three months to end March is a record for SBI.
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For the full fiscal 2023, net profit rises by 59% y-o-y to INR502.3bn.
SBI’s ROA and ROE for the financial year stand at 0.96% and 19.43% respectively. The ROA at 1.23% for the quarter improves by 49 basis points y-o-y.
Net Interest Income for the full fiscal increases by 19.99% y-o-y. The bank’s domestic net interest margin rises by 22 basis points to 3.58% for fiscal 2023. The same metric for the fourth quarter rises by 44 basis points y-o-y to 3.84%.
State Bank of India Q4 2023 credit, deposits growth
Domestic Advances rise by 15.38% y-o-y. Domestic advances growth is driven by retail personal advances (+17.64 y-o-y) followed by SME advances up by 17.59% y-o-y. •
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