Q1 2025 State Bank of India Earnings Call Transcript
Key Points
- State Bank of India (BOM:500112) reported a net profit of INR 17,035 crores for Q1 FY25, showing a 0.90% increase over Q1 FY24.
- Operating profit increased by 4.55% YoY to INR 26,449 crores.
- The bank's ROA remains strong at 1.10% for Q1 FY25, and ROE stands at 20.98%.
- Gross NPA ratio improved by 55 basis points YoY to 2.21%, the lowest in over 10 years.
- The bank's digital banking platform, YONO, continues to gain traction with 48 crore customers registered and 63% of new savings accounts opened through the platform.
- Slippages during the quarter were noted, with some attributed to seasonal factors and delayed salary credits in certain states.
- Operating expenses increased marginally by 0.65% YoY.
- The cost-to-income ratio, although improved, still stands at 49.42%, indicating room for further efficiency.
- Net interest income growth was modest at 5.71% YoY, reflecting some compression in net interest margins.
- The bank faces challenges in deposit growth, with deposits growing by 8.18% YoY, which is lower than the credit growth of 15.55%.
Namaste, everyone, and good evening, ladies and gentlemen. My name is Sanjay Kapoor, and I am the General Manager of Performance Planning and Review department of the bank. On behalf of State Bank of India, I am delighted to welcome the analysts, the investors, colleagues, and everyone present here today on the occasion of declaration of the financial results of the bank for quarter one of financial year '25. I also extend a very warm welcome to all the people who are accessing the event through our live webcast.
We have with us on this stage, Chairman, Shri Dinesh Khara at the center; our Managing Director, International Banking, Global Markets and Technology, Shri C.S. Setty; our Managing Director of Corporate Banking and Subsidiaries, Shri Ashwini Kumar Tewari; our Managing Director, Retail Business and Operations, Shri Vinay M. Tonse; our Deputy Managing Director of Finance, Shrimati Saloni Narayan.
Our Deputy Managing Directors, heading various verticals and Managing Directors of our
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