SBI share fell more than 3% on Monday amid a larger market sell-off, despite the fact that the state-run largest lender reported better-than-expected Q1 earnings. SBI shares declined 3.54% to ₹817.85 on the BSE.
On the back of a robust 16% YoY growth in credit and decreased opex, the State Bank of India (SBI) announced a solid and in-line net profit. Compared to the same period the previous year, when SBI’s net profit was ₹16,884.29 crore, it rose by 0.89% to ₹17,035.16 crore in the first quarter of FY25.
In Q1FY25, the PSU Bank’s net interest income (NII) increased 5.7% YoY and decreased 1.3% QoQ to ₹41,125 crore. From 3.47% YoY to 3.35%, the net interest margin (NIM) decreased by 12 basis points (bps).
The management of SBI is optimistic that it can achieve strong credit growth of 13–15% in FY25 while maintaining margins at current levels.
As of 10:33 am, SBI shares were trading 2.57% lower at ₹826.10 on the NSE.
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