Bank Bonanza: SBI, HDFC And Others Post Bumper Revenues In Q4 Earnings

Bank Bonanza: SBI, HDFC And Others Post Bumper Revenues In Q4 Earnings

The stock price of HDFC Bank was trading at 1440, ICICI Bank was around 1119, and SBI was around 823 with a 0.5 per cent gain.

Vikrant DurgaleUpdated: Friday, May 10, 2024, 02:26 PM IST
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Bank Bonanza | Freepik

By market cap, the top five banks are HDFC Bank at 11.16 lakh crore, ICICI Bank with 7.70 lakh crore, SBI around 6.75 lakh crore, Kotak Mahindra Bank at 3.56 lakh crore, and Axis Bank with 3.24 lakh crore of market capitalization as of April 1.

The stock price of HDFC Bank was trading at 1440, ICICI Bank was around 1119, and SBI was around 823 with a 0.5 per cent gain. Kotak Mahindra Bank was seen trading at 1628, with a roughly 1 per cent downfall. PNB was at 124 around 1 pm today.

The State Bank of India saw a rise in share price of more than one percent, as the stock continued to rise following the bank's Q4 results. In the fourth quarter of FY24, SBI recorded its highest-ever quarterly net profit of ₹20,698 crore.

The SBI reported a 24 per cent increase in revenue from ₹16,694.5 crore in the same quarter last year, and it stated that it anticipates growing its credit book by 14–16 per cent during the current fiscal year.

The SBI's asset quality also improved in the March quarter as a result of a 2.9 per cent drop in gross non-performing assets and a 6.1% QoQ drop in net non-performing assets.

Punjab National Bank (PNB) announced that its net profit for the fourth quarter of the fiscal year 2023–24 increased by 160 per cent to ₹3,010.27 crore. A number of significant factors contributed to the bank's performance.

A decline in the gross non-performing assets (NPA) ratio, which was 5.73 per cent as opposed to 6.24 per cent in the previous quarter and 8.74 per cent in the previous year.

HDFC Bank had their one of best quarters. The difference between interest paid and earned by the bank, or net interest income, increased 2.1% during the quarter to 290.8 billion rupees.

3.44 per centon total assets and 3.63 per cent on interest-earning jump on net interest margin; this compares to 3.4 per cent and 3.6 per cent respectively, in the previous quarter.

ICICI Bank's Q4 result beat market expectations. The net profit of Rs 10,331 crore is in line with market estimates. For each share, the bank suggested a dividend of Rs 10.
Comparing the net interest income (NII) for the same quarter of the previous fiscal year, which came in at Rs 17,667 crore, to Rs 19,093 crore, showed an increase of 8%.

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