SBI Q3 PAT up 24% on stable NII growth

Core Insights - State Bank of India (SBI) reported a 24% year-on-year increase in net profit for the quarter ended December, amounting to ₹21,028 crore, driven by stable growth in core income [1] Financial Performance - Net interest income (NII) increased by 9% year-on-year to ₹45,190 crore, with a net interest margin of 2.99%, which is up 2 basis points quarter-on-quarter but down 2 basis points year-on-year [2] - Other income decreased by 8% year-on-year to ₹18,359 crore, primarily due to a one-time gain of ₹4,593 crore from a partial stake sale in YES Bank in Q2FY25 [2] - Gross advances grew by 15% year-on-year to ₹46.83 lakh crore in Q3, while deposits rose by 9% year-on-year to ₹57.01 lakh crore [2]