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State bank of India conducted a conference call on 09 May 2023 to discuss its financial results for the quarter ended March 2023. Dinesh Kumar Khara, Chairman of the bank addressed the call:
Highlights:
The bank has delivered the highest ever net profit for FY2024. The bank has delivered strong profit despite creating provisions of Rs 13387 crore for wage revision and Rs 7100 crore for pension and DA neutralization during the year.
The bank has exhibited 8 bps improvement in the RoA to 1.04%, while RoE improved by 89 bps to 20.32% in FY2024.
The bank has continued to report an ROE of above 15% for the last 7 quarters and aims to continue to deliver an ROE of above 15% on a sustainable basis, going forward.
The customer base of the bank has touched 50 crore which is 35% of India''s population.
The deposits of th...
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