Net interest income (NII), the difference between interest earned and interest expended, rose over 12% on year to Rs 39,500 crore, and was above the estimated Rs 38,500 crore.
Total income for the quarter grew by 26.4% on year to Rs 1.12 lakh crore.
Provisions and contingencies, net of write back, reduced sharply in the quarter to Rs 115.28 crore from Rs 3,039 crore a year ago. Provisions for bad assets was down to Rs 1,815 crore from Rs 2,011 crore a year ago.
Gross non-performing assets ratio as of September end was 2.55%, compared with 3.52% a year ago, and 2.76% a quarter ago.
Net non-performing assets ratio as of September end was 0.64%, compared with 0.80% a year ago, and 0.71% a quarter ago.
The capital adequacy ratio as per Basel-IIII norms was 14.28% as of September end, compared to 13.51% a year ago, and 14.56% a quarter ago.The provision coverage ratio (PCR) improved by 39 bps YoY and stood at 91.93% as of September end. The slippage ratio for the quarter increased by 13 bps YoY and stood at 0.46%.
Credit cost however, improved by 6 bps YoY to 0.22% in the second quarter, SBI said in a release.
The domestic net interest margin (NIM) for the quarter decreased by 12 bps YoY to 3.43%. However, margins for the six months ended September increased by 6 bps YoY to 3.45%.
Credit growth was up 12.39% YoY, with domestic advances growing by 13.2% during the quarter.
The growth in domestic advances was driven by SME loans at 23%, followed by retail personal loans, which grew by 16% YoY.
Agri and corporate loans registered a YoY growth of 15% and 7%, respectively. Whole bank deposits grew by 12% YoY, of which, CASA deposits grew by 5% YoY. CASA ratio stood at 41.88% as of September end.
On Friday, shares of SBI ended 1% higher on the National Stock Exchange at Rs 578.15.
Download The Economic Times News App to get Daily Market Updates & Live Business News.
Top Trending Stocks: Sensex Today Live, SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
