SBI Q4 FY25 Results: Record ₹70,901 Cr Profit, Dividend Declared, NIM Pressure Ahead – Key Highlights Explained 04.05.2025

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State Bank of India (SBI) – Q4 FY25 Results Summary

(As of March 31, 2025)

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Financial Highlights:

• Net Profit:

  • ₹18,643 crore in Q4 FY25, down 9.9% YoY due to higher provisions and no one-time write-back (Q4 FY24 base effect).
  • FY25 full-year net profit at a record ₹70,901 crore, up 16.08% YoY.

• Net Interest Income (NII):

  • ₹42,775 crore in Q4 FY25, up 2.69% YoY.
  • Net Interest Margin (NIM): 3.15% (domestic), down 32 bps YoY due to rate cycle reversal.

• Non-Interest Income:

  • Jumped 40% YoY to ₹24,210 crore.
  • Driven by:
    • Treasury gains: ₹6,879 crore (nearly doubled YoY).
    • Forex income: ₹2,859 crore (vs. ₹225 crore YoY).

• Provisions:

  • Total provisions rose 57% YoY to ₹12,643 crore.
  • Loan loss provisions: ₹3,964 crore, up 20.35% YoY.

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Operational Performance:

• Credit Growth: 12.03% YoY

  • Total Advances: ₹42 trillion.
  • Retail Loans: +11.4%
  • Home Loans: +14.46%
  • Corporate Loans: +9%

• Deposit Growth: 9.48% YoY

  • Total Deposits: ₹53.8 trillion
  • CASA Ratio: 6.34%

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Asset Quality:

• Gross NPA: Improved to 1.82% (↓42 bps YoY).
• Net NPA: 0.47% (↓10 bps YoY).
• Provision Coverage Ratio: 92.08%

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Capital & Liquidity:

• Capital Adequacy Ratio (CAR): 14.25%
  • CET-1: 10.81%
• Capital Raise Approved: ₹25,000 crore in FY26 for growth.

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Dividend & Guidance:

• Dividend: ₹15.90 per share (FY25).
• FY26 Guidance:
  • Credit growth: Revised to 12-13% (earlier 14-16%) amid global headwinds.
  • Repo rate cut expected: 50 bps (including 25 bps in June 2025), may compress NIM.

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Management Commentary:

• Chairman CS Setty:
  • Emphasized strong balance sheet and proactive provisioning.
  • Focus on repricing loans – 29% of portfolio linked to repo rate.

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Sentiment Analysis (AI-Powered):

Overall Sentiment: Neutral to Slightly Positive

• Positive Drivers:

  • Record annual profit despite Q4 drag.
  • Strong non-interest income and asset quality improvements.
  • Proactive capital raising and provisioning.
  • Healthy credit and deposit growth.

• Negative Drivers:

  • Q4 profit dip due to higher provisions.
  • Pressure on NIM from anticipated rate cuts.
  • Conservative credit growth outlook signals macro caution.

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Stock Price Prediction & Outlook:

Short-Term (1–3 months):

• Neutral to Slight Upside Bias
  • Likely to consolidate post-results with support near ₹735–745, resistance near ₹790–810.
  • Market may weigh in on rate-cut impact vs. strong FY25 earnings.

Medium-Term (3–6 months):

• Bullish bias, targeting ₹850–875, if rate cut cycle supports treasury gains and retail loan momentum sustains.

Risks:

• Aggressive rate cuts could further pressure NIM.
• Any macro shocks or slippages in corporate loans.

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