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Net Interest Income (NII) increased by 24.05% YoY to Rs 38,069 crore during the quarter. Net Interest Margin (domestic) was at 3.69% in Q3 FY23 as against 3.40% in Q3 FY22.

Operating profit increased by 36.16% year on year to Rs 25,219 crore in the quarter ended 31 December 2022.

Provisions and contingencies (other than tax) declined 17.4% to Rs 5,760.57 crore in Q3 FY23 from Rs 6,973.97 crore posted in Q3 FY22. Provision Coverage Ratio (PCR) improved by 490 bps YoY at 76.12%. PCR (including AUCA) stood at 91.52%.

The bank's gross non-performing assets (NPAs) slipped to Rs 98,347 crore as on 31 December 2022 as against Rs 1,06,804 crore as on 30 September 2022 and Rs 1,20,029 crore as on 31 December 2021.

The ratio of gross NPAs to gross advances stood at 3.14% as on 31 December 2022 as against 3.52% as on 30 September 2022 and 4.50% as on 31 December 2021.

The ratio of net NPAs to net advances stood at 0.77% as on 31 December 2022 as against 0.80% as on 30 September 2022 and 1.34% as on 31 December 2021.

Total deposits grew 9.51% to Rs 42,13,557 crore as on 31 December 2022 as against Rs 38,47,794 crore as on 31 December 2021. Whole Bank Deposits grew at 9.51% YoY, out of which CASA Deposit grew by 5.88% YoY. CASA ratio stood at 44.48% as on 31 December 2022.

The bank's credit growth stood at 17.60% YoY. Domestic advances grew at 16.91% YoY and Foreign Offices' advances rose by 21.47% YoY.

The bank's return on assets (ROA) for the quarter was at 1.08%, improved by 37 basis points YoY.

Capital adequacy ratio (CAR) as at the end of Q3 FY23 stood at 13.27%. Slippage ratio for Q3 FY23 was at 0.41%, improved by 4 bps YoY while credit cost improved by 28 bps YoY to 0.21%.

State Bank of India (SBI) is an Indian multinational, public sector banking and financial services statutory body. As of 31 December 2022, the Government of India held 57.50% stake in the bank.

The scrip advanced 3.12% to end at Rs 544.45 on the BSE.

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