Net Interest Income (NII) increased by 29.47% YoY to Rs 40,393 crore during the quarter. Net Interest Margin (domestic) was at 3.84% in Q4 FY23 as against 3.40% in Q4 FY22.

Operating profit rose by 24.87% year on year to Rs 24,621 crore in the quarter ended 31 March 2023.

Provisions and contingencies (other than tax) tumbled 54.19% to Rs 3,315.71 crore in Q4 FY23 from Rs 7,237.45 crore posted in Q4 FY22. Provision Coverage Ratio (PCR) improved by 135 bps YoY at 76.39%. PCR (including AUCA) stood at 91.91%.

The bank's return on assets (ROA) for the quarter was at 1.23%, improved by 49 basis points YoY.

On full year basis, State Bank of India's net profit jumped 58.58% to Rs 50,232.45 crore on 16.68% rise in total income to Rs 3,68,718.66 crore in FY23 over FY22.

The bank's gross non-performing assets (NPAs) slipped to Rs 90,928 crore as on 31 March 2023 as against Rs 98,347 crore as on 31 December 2022 and Rs 1,12,023 crore as on 31 March 2022.

The ratio of gross NPAs to gross advances stood at 2.78% as on 31 March 2023 as against 3.17% as on 31 December 2022 and 3.97% as on 31 March 2022.

The ratio of net NPAs to net advances stood at 0.67% as on 31 March 2023 as against 0.77% as on 31 December 2022 and 1.02% as on 31 March 2022.

Total deposits grew 9.19% to Rs 44,23,778 crore as on 31 March 2023 as against Rs 40,51,534 crore as on 31 March 2022, out of which CASA Deposit grew by 4.95% YoY. CASA ratio stood at 43.80% as on 31 March 2023.

The bank's credit growth stood at 15.99% YoY. Domestic advances grew at 15.38% YoY and Foreign Offices' advances rose by 19.55% YoY.

Capital adequacy ratio (CAR) as at the end of FY23 stood at 14.68%, slippage ratio was at 0.41%, improved by 2 bps YoY while credit cost reduced by 33 bps YoY to 0.16%.

State Bank of India (SBI) is an Indian multinational, public sector banking and financial services statutory body. As of 31 March 2023, the Government of India held 57.49% stake in the bank.

The scrip declined 1.16% to currently trade at Rs 579.70 on the BSE.