Net interest income jumped 12.27% to Rs 39,500 crore in Q2 FY24 as compared with Rs 35,183 crore in Q2 FY23. Net interest margin (domestic) reduced by 12 bps to 3.43% in Q2 FY24 as against 3.55% in Q2 FY23.

Operating profit declined 8.07% YoY to Rs 19,417 crore in the quarter ended 30 September 2023 as compared with Rs 21,120 crore posted in corresponding quarter last year.

Total deposits grew 11.91% to Rs 46,89,218 crore as on 30 September 2023 as against Rs 41,90,225 crore as on 30 September 2022, out of which CASA Deposit grew by 4.91% YoY. CASA ratio slipped to 41.88% as on 30 September 2023.

The bank's return on assets (ROA) for the quarter stood at 1.01% as against 1.04% in Q2 FY23.

Provision coverage ratio (PCR) reduced by 248 bps YoY at 77.45%. PCR (including AUCA) stood at 91.54%.

The bank's gross non-performing assets (NPAs) slipped to Rs 86,974 crore as on 30 September 2023 as against Rs 1,06,804.14 crore as on 30 September 2022 and Rs 91,327.84 crore as on 30 June 2023.

The ratio of gross NPAs to gross advances stood at 2.55% as on 30 September 2023 as against 3.52% as on 30 September 2022 and 2.76% as on 30 June 2023.

The ratio of net NPAs to net advances stood at 0.64% as on 30 September 2023 as against 0.80% as on 30 September 2022 and 0.71% as on 30 June 2023.

The bank's credit growth stood at 12.39% YoY. Domestic advances grew at 13.21% YoY and Foreign Offices' advances rose by 8.11% YoY.

Capital Adequacy Ratio (CAR) as at the end of Q2FY24 improved by 77 bps YoY and stands at 14.28%,slippage ratio was at 0.46%, improved by 13 bps YoY while credit cost reduced by 6 bps YoY to 0.22%.

State Bank of India (SBI) is an Indian multinational, public sector banking and financial services statutory body. As of 30 September 2023, the Government of India held 57.49% stake in the bank.

The scrip rose 1.09% to settle at Rs 578.15 on Friday, 3 November 2023.