Friday, the biggest public sector lender in India, the State Bank of India (SBI), announced a net profit of Rs 18,331 crore for the quarter ending in September, representing an increase of 27.92 percent (year-on-year) for Q2 FY25.

The operational profit increased to Rs 29,294 crore, a growth of 50.87 percent compared to the previous year.

For the first half of fiscal year 25 (H1 FY25), the SBI had a return on assets (ROA) of 1.13% and a return on equity (RoE) of 21.78%.

In Q2 of FY25, the SBI reported a net interest income (NII) growth of 5.37% year over year.

The bank reported a 42 basis point year-over-year improvement in its gross nonperforming asset ratio and an 11 basis point improvement in its net nonperforming asset ratio in its financial results.

Domestic advances increased by 15.55 percent year over year, contributing to a credit growth rate of 14.93 percent for the quarter. Total deposits at the lender were Rs 51,17,284 crore in the September quarter, up 9.13% from Rs 46,89,218 crore in the corresponding period of the previous fiscal year.

Deposits into domestic term accounts increased by 12.51%, while deposits into domestic current account savings accounts (CASAs) increased by 4.24%. As of September 30, the CASA ratio was 40.03 percent.

The SBI reports that during the quarter, SME personal advances loans grew by 17.36% year-on-year and retail personal advances loans grew by 11.32%. The percentage of total transactions via other channels rose from 97.7 percent in H1 FY24 to 98.2 percent in H1 FY25, even though 61% of SB accounts were opened digitally through the YONO digital banking platform.

At 0.68 percent, the bank reported a 2 basis point year-over-year improvement in the slippage ratio for the first half of fiscal year 25. There was a 5-basis point year-over-year rise in the slippage ratio for Q2 FY25, bringing it to 0.51%. The Capital Adequacy Ratio (CAR) was 13.76% as of the end of Q2 FY25. During the intraday session, SBI stock was trading at Rs 839.70 per share, a decline of 2.3%.