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State bank of India conducted a conference call on 08 November 2024 to discuss its financial results for the quarter ended September 2024. CS Setty, Chairman of the bank addressed the call:
Highlights:
Q2FY25 results of the bank highlight continuity, consistency and significant long-term strengths. The bank has remained focused on strengthening the key components that contribute to sustainable value. It has prioritized liability franchise. The refined processes continue to improve underwriting standards.
The bank expects scheduled commercial banks deposits to grow 11-12% and credit by 12-13% in FY25.
The credit growth of the bank was 14.93% yoy, deposit growth was 9.13% end September 2024. The domestic CD ratio is at around 67.9% end September 2024.
The net profit increased 28% yoy to Rs 18331 crore in Q2FY2025.
The b...
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