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State Bank of India (SBI) reported Q3FY25 PAT of INR 168.9bn (up 84% YoY) led by sharp opex reduction (off high base) and contained credit costs, while revenue growth was muted (up 2% YoY).
State Bank of India saw a soft Q3 on subdued NII and miss in other income. The bank’s dominant market position, best-in-class management and strong digital abilities would aid in maintaining its market share, while delivering healthy profitability.
Q3 numbers were a mixed bag. NII at Rs. 41,446 crore (below estimate) grew by 4% y-o-y/ flat q-o-q. NIMs declined by 13 bps q-o-q to 3.01% led by higher cost of funds.