Srinagar: State Bank of India (SBI), India’s largest state-owned bank, reported a standalone net profit of Rs 20,698.35 crore, up 24 per cent year-on-year (Y-o-Y), on the back of higher interest income and low provisions.
The Board of the Bank has declared a dividend of Rs 13.70 per equity share for the financial year ended 31.03.2024.
Two major bank stock investors who spoke to Ziraat Times said that they were upbeat about the results and the announcement of the dividend.
“Rs 13.70 per equity share
is a positive development and we see this growth as the bank’s assured performance and focus on containing NPAs.
The bank had reported a net profit of Rs 16,694.5 crore in the March quarter of the previous fiscal (Q4FY23).
State Bank of India (SBI), India’s largest state-owned bank, reported a standalone net profit of Rs 20,698.35 crore, up 24 per cent year-on-year (Y-o-Y), on the back of higher interest income and low provisions.
The bank had reported a net profit of Rs 16,694.5 crore in the March quarter of the previous fiscal (Q4FY23).
SBI Q4 dividend announcement
The Board of the Bank has declared a dividend of Rs 13.70 per equity share for the financial year ended 31.03.2024. The record date for determining the eligibility of shareholders, entitled for the dividend, has been fixed as Wednesday, May 22, 2024. Dividend payment date is fixed as June 5, 2024.
