SBI net profit up 83% to ₹16,694 crore in Q4FY23, bank to pay ₹11.30 per share dividend

State Bank of India (SBI) announced its Q4FY23 i.e. fourth quarter (January-March) results on 18 May. The bank's net profit rose 83.18% year-on-year (YoY) to Rs 16,694.51 crore in the March quarter.
The bank posted a profit of Rs 9,113.53 crore in the same quarter last year. On the other hand, the net profit of the bank has increased by 17.52% on a quarterly basis. The board of SBI has also announced a dividend of Rs 11.30 per share to its investors. The payment date of the dividend has been fixed as June 14. The bank has given this information in the exchange filing.
SBI's interest income in Q4FY23 stood at Rs 92,951.06 crore, as against Rs 70,733.25 crore in the year-ago quarter. The bank's net non-performing asset (NPA) ratio improved to 0.67% quarter-on-quarter (QoQ) and 0.77% year-on-year (YoY) from 1.02% in the fourth quarter.
The gross NPA ratio of the bank has come down to 2.78% from 3.14% in Q3FY23 and 3.97% in Q4FY22. The bank's provisions and contingencies declined by 54.19% to Rs 3,315.71 crore in the March quarter from Rs 7,237.45 crore in the same quarter last year.
SBI's debt-to-equity ratio declined slightly to 0.66% in the fourth quarter from 0.71% in the same quarter last year (Q4FY22). The total expenditure of the bank in Q4FY23 increased by 30.84% to Rs.82,291.35 crore as against Rs.62,896.57 crore in the corresponding quarter last year.
Over the past few years, the bank has improved its balance sheet due to better credit growth, bad loan (NPA) recoveries, and write-offs. After the result, SBI shares fell 1.70% i.e. Rs 9.95 to close at Rs 576.35 on Thursday.