Today State Bank of India (SBI) announced its Q4 results. The PSU lender’s net interest income (NII) in Q4FY24 increased marginally by 3.1% to ₹41,656 crore from ₹40,392.5 crore, year-on-year (YoY). SBI reported a net profit of ₹20,698 crore in the fourth quarter of FY24, registering a growth of 24% from ₹16,694.5 crore in the year ago quarter. SBI also declared a dividend of ₹13.7 per equity share for FY24. SBI share price gained over 3% to hit a fresh 52-week high after its Q4 results beat estimates. Asset quality of the bank improved during the March quarter as Gross NPA decreased 2.9% and Net NPA declined 6.1% QoQ.
On thursday after the PSU lender announced its Q4 results, it’s shares jumped as much as 3.60% to a fresh 52-week high of ₹839.60 apiece on the BSE.
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