State Bank of India announced Q2FY24 & H1FY24 results: 1. Profitability: - Net profit for Q2FY24 at Rs 14,330 crore, showing a growth of 8.03% YoY. - Operating profit for Q2FY24 is at Rs 19,417 crore, reflecting a decline of 8.07% YoY. - Bank's ROA and ROE for H1FY24 stand at 1.10% and 22.57% respectively. - Net Interest Income (NII) for Q2FY24 increased by 12.27% YoY. 2. Balance Sheet: - Credit growth at 12.39% YoY, with Domestic Advances growing by 13.21% YoY. - Foreign Offices' Advances grew by 8.11% YoY. - Domestic Advances growth driven by SME Advances (22.75% YoY) followed by Retail Personal Advances which grew by 15.68% YoY. - Whole Bank Deposits grew at 11.91% YoY, out of which CASA Deposit grew by 4.91% YoY. CASA ratio stands at 41.88% as of September 30, 2023. 3. Asset Quality: - Gross NPA ratio at 2.55% improved by 97 bps YoY. - Net NPA ratio at 0.64% improved by 16 bps YoY. - PCR (Incl. AUCA) improved by 39 bps YoY and stands at 91.93%. - Slippage Ratio for H1FY24 improved by 16 bps YoY and stands at 0.70%. 4. Capital Adequacy: - Capital Adequacy Ratio (CAR) as at the end of Q2FY24 improved by 77 bps YoY and stands at 14.28%. 5. Alternate Channels: - 61% of SB accounts and 39% of retail asset accounts acquired digitally through YONO. - Share of Alternate Channels in total transactions increased from ~96.8% in H1FY23 to ~97.7% in H1FY24. Result PDF