SBI Announces Q4 Results bank net profit rises by 24 percent to 20698 crore rupees declares dividend

SBI Q4 Results: State Bank of India, the largest public sector bank, has released the results for the fourth quarter of the financial year 2023-24 on Thursday, May 9. The bank has achieved record profit between January-March and the net profit of the bank has increased by 24 percent. During this period the bank has earned a net profit of Rs 20,698 crore. Whereas in the same quarter last year, the net profit of the bank was Rs 16,695 crore. Along with releasing the quarterly results, the bank has also announced dividend. After releasing the quarterly results, there has been a tremendous rise in the shares of the bank and they have closed at Rs 820 with a rise of 1.13 percent.

Bank announced dividend

Along with releasing the quarterly results, State Bank of India has also given the gift of dividend to the shareholders. In the exchange filing, the bank has said that it will give a dividend of Rs 13.70 per share to the shareholders. Earlier, experts had estimated that the bank can earn a profit of Rs 13,400 crore in this quarter. In such a situation, the bank's results have been much better than expected.

The bank earned this much in the March quarter

SBI's total income in the March quarter has increased to Rs 1.28 lakh crore from Rs 1.06 lakh crore a year ago. At the same time, the operating expenses of the bank have increased from Rs 29,732 crore last year to Rs 30,276 crore. The total provision of the bank has decreased from Rs 3,315 crore to Rs 1,609 crore in one year.

Bank's NPA reduced

SBI's Gross Non-Performing Asset (GNPA) has come down to 2.24 percent in the March quarter from 2.78 percent last year. At the same time, the net NPA of the bank has reduced from 0.67 percent to 0.57 percent. The bank's interest income increased by 19 percent in the March quarter from Rs 95,951 crore to Rs 1.11 lakh crore.

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