World · India Bureau
SBI posts 14.3% profit growth on lower loan loss provisions
State Bank of India's second-quarter net profit climbed to ₹23,038 crore, driven by improved asset quality and a significant decline in provisions. The bank's net interest income expanded 14.7% while gross non-performing assets improved to 1.39%.
LSN India ·
State Bank of India reported a 14.3% increase in net profit for the second quarter, reaching ₹23,038 crore, as the country's largest lender benefited from improved loan quality and lower provisioning requirements.
Net interest income, a key measure of lending profitability, expanded 14.7% to ₹49,143 crore during the period. The growth reflects SBI's ability to maintain healthy spreads amid a challenging interest rate environment.
Provisioning expenses fell nearly 22% quarter-on-quarter, signalling improving asset quality across the bank's portfolio. The gross non-performing asset ratio improved to 1.39%, demonstrating better credit management and borrower repayment.
The results underscore SBI's operational resilience as India's banking sector navigates moderating economic growth. The bank's performance reflects stabilising credit quality after periods of stress in the retail and corporate segments.