financial report and board report for fy24-25

Here are additional, deeper insights into State Bank of India’s (SBI) financial and operational performance for FY24-25 based on the latest board and analyst reports:

Financial Performance Details

• Net Profit: SBI's standalone net profit for FY25 reached ₹70,901 crore, a 16% year-over-year increase and a new record, even as Q4 net profit dipped nearly 10% due to higher provisioning for contingencies.

• Operating Profit and Margins: Operating profit for the year surpassed ₹1 lakh crore (₹110,579 crore), growing 17.9% YoY, demonstrating strong core earnings resilience. Net profit margin improved to 15.8% from 15.3% in FY24. Net interest margin (NIM) slightly dipped from 3.0% to 2.9%.

• Asset Quality: Gross NPA ratio improved to 1.82% (from 2.24% a year ago), highlighting better credit risk management. Net NPA also declined, reflecting higher provisioning coverage (over 91.8%).

• Advances and Deposits: Advances grew 12% YoY to ₹42 lakh crore, with domestic advances up 11.6%. Deposits climbed 9.5% to ₹54,399 billion, maintaining a strong CASA (Current Account Saving Account) ratio near 40%.

• Dividend: Declared a total dividend of ₹15.90 per share for FY25, continuing its tradition of healthy payouts.

Key Business Drivers

• Retail Banking: Remains cornerstone, with over 22,400 branches now contributing ~90% of deposits and 55% of total loans. SBI remains market leader in home, education, and auto loans, and continues to grow its affluent and NRI customer base.

• Digital Initiatives: Over 60% of new savings accounts were opened via digital channels. Digital lending and contactless offerings through YONO drove efficiency and widened customer reach.

• Asset Quality and Provisioning: Proactive risk controls and higher coverage for stressed assets ensured stability. Q4 profit decline was driven primarily by increased provisioning, not by operational weakness.

• Capital and Growth: SBI's capital adequacy remains robust, positioning it to pursue new growth opportunities and manage risk prudently. The board approved a ₹25,000 crore fundraising plan for FY26 to support future lending and expansion.

Strategic Focus and Initiatives

• Customer-Centric Innovation: Enhanced digital banking, new tailored loan products (like “Green Car Loans” and scholar education loans), and wider availability of doorstep services have improved customer experience.

• Sustainability: Launched “SBI Green Rupee Term Deposit” and integrated sustainability measures into lending products, supporting both green financing and regulatory compliance.

Summary Table: SBI FY24-25 Key Metrics

Metric	FY25	Growth/Y-o-Y Change
Net Profit	₹70,901cr	+16%
Operating Profit	₹110,579cr	+17.9%
Net Interest Margin	2.9%	Down from 3.0%
Gross NPA Ratio	1.82%	Improved (from 2.24%)
Advances	₹42L cr	+12%
Deposits	₹54.4L cr	+9.5%
Dividend per share	₹15.90

Outlook

• SBI is well-positioned for continued double-digit growth in advances and deposits heading into FY26, with stronger risk controls, widened digital reach, and capital strength.

• Ongoing margin pressures in the industry remain a challenge, but operating efficiency, sound asset quality, and strategic innovation are expected to support sustained profitability.

This multi-faceted growth, balanced by prudent risk controls and digital transformation, further cements SBI’s market and financial leadership in India’s banking sector.