SBI Q4: Net Profit Soars 83%, Declares 1130% Dividend

Country's leading public sector bank, State Bank of India on May 18 announced 83.18% jump in its standalone net profit for March quarter to Rs 16,694.51 crore as against Rs 9,113.53 crore declared in same quarter of last year. Board of directors of SBI recommended a dividend of Rs 11.30 per equity share for FY 2023. Despite better than-expected numbers, the SBI share fell 1.03% at Rs 580.45 apiece. Check details below:

SBI Declares Dividend: According to the BSE filing of the company, "Further, pursuant to Regulation 43 and Regulation 30 (6), we advise that the Central Board of the Bank, at its Meeting held on 18 th May, 2023, has declared a Dividend of Rs. 11.30 per equity share (1130%) for the financial year ended 31st March, 2023. The date of payment of Dividend is fixed on 14 th June, 2023 and the dividend warrants will be dispatched before the date of payment, which will be payable, in India, at par at all branches of State Bank of India, irrespective of the amount."

SBI Q4: The bank announced its net interest income at Rs 40,392.50 crore, up 29.5% from Rs 31,197 crore declared in the corresponding quarter of last year. Provisions (other than tax) and contingencies declined by 54% to Rs 3,316 crore for the quarter under consideration as against Rs 7,237 crore declared a
year ago.

SBI's operating profit for the March quarter surged 25% YoY to Rs 24,621 crore. Domestic net interest margin (NIM) during the quarter soared 44 basis points YoY to 3.84%.

SBI Stock Performance & Return: The current market price of SBI share is Rs 580.45 apiece with intraday fall of 1.03% on BSE. The stock's 52-week high price is Rs 629.65 apiece and 52-week low price is Rs 430.80 apiece, respectively. The bank has a market capitalisation of Rs 5,17,895.23 crore. The shares of SBI gave return of 26% in last 1-year, 51% in last 2-years, and a huge 272% in last 3-years.

About SBI: State Bank of India (SBI) a Fortune 500 company, is an Indian Multinational, Public Sector Banking and Financial services statutory body headquartered in Mumbai. The rich heritage and legacy of over 200 years, accredits SBI as the most trusted Bank by Indians through generations, according to its official website.