SBI Q4 Results: Net Profit Up by 21.59% YoY

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In its Q4 FY24 results, the State Bank of India (SBI) showcased strong financial performance across key metrics. Operating profit surged by 16.76% YoY to ₹28,748 crores, while FY24 net profit reached ₹61,077 crores, up by 21.59% YoY. SBI’s Whole bank deposits rose by 11.13% YoY. However, FY24 whole bank Net Interest Margin (NIM) declined by 9 bps YoY to 3.28%. SBI's profitability and deposit growth underscore its resilience and strategic positioning in the banking sector.

DATA Points:

  1. Q4 FY24 Operating Profit: ₹28,748 crores; Up by 16.76% YoY

  2. FY24 Net Profit: ₹61,077 crores; Up by 21.59% YoY

  3. Whole Bank Deposits: Up by 11.13% YoY

  4. FY24 Whole Bank NIM: Down by 9 bps YoY to 3.28%.

ExploreState Bank Of India Share Price

SBI Q4 Results: 5 Key Financial Highlights

State Bank of India, the largest bank in India, announced its FY 2024 Q4 results, today, on 9th May 2024. SBI Q4 results were reviewed and approved by the Board of Directors. Take a look at the major highlights:

  1. SBI recorded a notable 23.98% year-on-year (YoY) increase in its net profit for the fourth quarter of FY24, at ₹20,698 crores, surpassing market expectations.

  2. The net profit for FY24 amounts to ₹61,077 crores, showing a YoY growth of 21.59% after factoring in the wage settlement and a one-time exceptional item of ₹7,100 crores.

  3. The bank's return on assets (ROA) and return on equity (ROE) for FY24 are reported at 1.04% and 20.32% respectively.

  1. In FY24, the operating profit increased by 12.05% YoY to ₹93,797 crores, and in Q4FY24, it rose by 16.76% YoY to ₹28,748 crores.

  2. The PSU lender declared a dividend of ₹13.70 per equity share @ 1370% for the year that ended on 31st March 2024.

Additional ReadSBI Cards Q4 Results

SBI Q4 Results: Profitability Analysis

Here’s a quick analysis of the financial results of SBI, the largest state-run lender in the country:

  • Net profit:

    The bank showcased a notable 23.9% surge in standalone net profit to ₹20,698 crore compared to ₹16,694 crore recorded in the corresponding quarter of the previous year. The consolidated profit was recorded at 21,384.15 for Q4 and ₹11.064 for Q3. In Q4FY24, the Pre-Provisions Operating Profit (PPoP) experienced robust growth of 16.76%, reaching ₹28,747.55 crores compared to ₹24,621.11 crores in the previous year, YoY.

  • Asset quality:

    SBI witnessed an enhancement in its asset quality. The bank's Gross Non-Performing Assets) ratio stood at 2.24%, reflecting a noteworthy improvement of 54 basis points (bps) year-on-year (YoY). The Net Non-Performing Assets (NPA) ratio was recorded at 0.57%, showing an improvement of 10 bps YoY. The Provision Coverage Ratio (PCR), including Additional Unsecured Credit Amount (AUCA), stood at 91.89%, with the PCR alone at 75.02%.

  • Robust credit and deposit growth

     SBI witnessed decreased provisions during Q4 FY24, alongside improved asset quality. Moreover, the bank demonstrated robust credit and deposit growth during the quarter ending March 2024.

  • Credit growth:

    SBI sustained robust loan growth in the March quarter. Credit expansion stood at 15.24% year-on-year (YoY). Domestic advances demonstrated significant growth, expanding by 16.26% year-on-year (YoY).

Additional Read: Quarterly Results

SBI Q4 Results: Financial Metrics ( ₹ in crores)


Q4 FY 23

Q4 FY 24





Interest Income 







Interest Expenses







NIM, % (Domestic)



-37 bps



-15 bps

Profit after tax 







Additional ReadTata Power Q4 Results


SBI, India's premier bank commanding a quarter of the market share, caters to a staggering 48 crore customers. Enduring over 217 years, the bank has weathered numerous upheavals, emerging not just unscathed but thriving. Its extensive infrastructure includes 22,405 branches, 65,627 ATMs/ADWMs, and 76,089 BC outlets. 

Introduced five years ago, the acclaimed banking app, YONO (You Only Need One) offers a comprehensive suite of digital banking services and hosts an online marketplace. Additionally, YONO Krishi integrates with over a dozen online mandis, offering agricultural information, credit, and investment solutions. Recognizing the importance of SMEs, SBI has introduced YONO Business.

Undoubtedly, SBI has been a pivotal force in shaping India's banking sector and driving economic growth. With its extensive reach, innovative solutions, and unwavering commitment to serving the nation, SBI is well-positioned to contribute significantly to India's economic journey.

Additional Read: Larsen & Toubro Q4 Results

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Frequently Asked Questions

What factors are driving the growth in the State Bank of Indias Domestic Advances?

Answer Field
  1. The growth in Domestic Advances is primarily fueled by SME (Small and Medium Enterprises) Advances, which saw a substantial increase of 20.53% year-on-year (YoY). Following closely behind, Agri Advances also contributed significantly to the growth, expanding by 17.92% YoY.

Has SBI declared a dividend?

Answer Field

SBI announced a dividend of ₹13.70 per equity share @ 1370% for FY 2023-24.

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