SBI

February 19, 2025 4:35 PM

SBI pegs India’s GDP growth at 6.3% for Q3 of 2024-25

SBI economists have pegged India’s GDP growth at 6.2-6.3 per cent for Q3 (October-December) of 2024-25 driven by buoyant demand and Capex trends along with the increase in EBIDTA and corporate GVA recorded by India Inc. The SBI report released on Wednesday considers the slowdown in the second quarter (Q2) as a “blip” and states that “presuming no major revisions are announced in the erstwhile Q1 and Q2 figures by NSO, we estimate the FY25 full year GDP at 6.3 per cent.” The official ...

February 18, 2025 7:15 PM

Recapitalisation, reforms have worked well for public sector banks: SBI Chairman

Recapitalisation and reforms in recent years have worked well for public sector banks, resulting in cleaner balance sheets, State Bank of India (SBI) Chairman C.S. Setty said on Tuesday. The savings behaviour has also changed, as depositors are practising asset allocation across segments, Setty said during the NDTV Profit Conclave here. He highlighted the critical role of capital in achieving the vision of a developed India (Viksit Bharat) and stressed the need for diversified sources of debt ...

February 6, 2025 4:17 PM

SBI posts robust 84 pc surge in net profit at Rs 16,891 crore in Q3

India's largest public sector lender, the State Bank of India (SBI), on Thursday reported an impressive 84.32 per cent surge in net profit (year-on-year) at Rs 16,891 crore for the October-December quarter (Q3 FY25), from Rs 9,164 crore in the year-ago period. The profit rise was aided by higher core income during the quarter. The net interest income (NII), or core income, was up 4.09 per cent from a year ago and stood at Rs 41,445.5 crore compared to Rs 39,816 crore, according to the bank’s...

January 20, 2025 11:33 AM

RBI steps to boost liquidity in banking system are smart, pragmatic: SBI

More changes in the RBI Liquidity Management Framework are likely after the daily dynamic VRR (variable rate repo) has been taken as the first step to manage liquidity in the banking system, according to an SBI research report. “Such changes and frontloading next round of moves are smart and pragmatic by the RBI…A delicate mix of temporary and permanent liquidity injection and withdrawal remains a work in progress,” the report states. As a corollary to intervention in the forex markets j...

October 10, 2024 10:33 AM

Rate cut with 7% growth unprecedented in India or globally: SBI report

Following the Reserve Bank of India's (RBI) forecast of over 7% GDP growth for the entire financial year 2024-25, a recent State Bank of India (SBI) report has highlighted that such a scenario of rate cuts accompanying high growth rates has rarely, if ever, occurred in India or globally. Despite the strong economic growth momentum, the SBI report raises whether the RBI is setting the stage for a potential rate cut. "Perhaps a 7% growth with a rate cut has never happened in India's history or i...

June 3, 2024 4:45 PM

SBI’s market cap crosses Rs 8 lakh crore, stocks surge to all-time high

The market capitalization of the State Bank of India (SBI) crossed the Rs 8 lakh crore mark on Monday after the bank's shares surged by 9 per cent during a rally in the stock market, hitting an all-time high of Rs 912. SBI's shares have increased by more than 50 per cent in the past six months. Finance Minister Nirmala Sitharaman recently posted on social media that India's banking sector had achieved a significant milestone by recording its highest-ever net profit, exceeding Rs 3 lakh crore. ...

May 9, 2024 11:31 PM

SBI’s net profit grows 18% in fourth quarter, 20.5% for entire 2023-24

The State Bank of India (SBI), the country's largest lender, has reported an 18 percent rise in consolidated net profit at Rs 21,384 crore for the quarter that ended in March, aided by strong credit growth. SBI reported a net profit of Rs 18,094 crore in the year-ago period. Consolidated net profit during the entire financial year 2023-24 rose by 20.55 per cent to Rs 67,085 crore as against Rs 55,648 crore in the preceding year. SBI's interest earned, in consolidated terms, grew 19.8 per ce...