Government Receives Over Rs 8,000 Crore As Dividend From SBI
SBI Chairman, CS Setty, presented the cheque to Finance Minister Nirmala Sitharaman on Monday.
Finance Minister Nirmala Sitharaman received a dividend cheque of Rs 8,076.84 crore from the State Bank of India on Monday. This marks a significant increase from last year's dividend of Rs 6,959 crore for the financial year 2023-24.
The cheque was presented by SBI Chairman CS Setty. In a post on X, Sitharaman said, "Smt @nsitharaman receives a dividend cheque of Rs 8076.84 crore for FY 2024-25 from Shri CS Setty, Chairman - @TheOfficialSBI."
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In the public sector bank's fourth quarter result for FY2025, the bank's net profit fell 10% year-on-year to Rs 18,643 crore for the three months ended March 31, while net interest income rose 2.7% to Rs 42,775 crore.
SBI's asset quality improved, with the gross non-performing assets ratio dropping to 1.82% in January-March from 2.07% in October-December. The net NPA ratio eased to 0.47% from 0.53%.
Provisions increased to Rs 6,442 crore from Rs 1,608 crore in the previous year, with a coverage ratio improving by 19 basis points to 92.08%. The slippage ratio also improved by 7 basis points to 0.55%.
Additionally, SBI's board has declared a dividend of Rs 15.9 per share.
