SBI board meeting on May 18 to consider financial results, dividend

“…with respect to the notice of the meeting of the Central Board of the Bank to be convened at Mumbai on Thursday, May 18, 2023, to consider the financial results of the Bank for the quarter/year ended March 31, 2023” SBI has issued a regulatory said in the filing.

SBI said that the central board of the bank may also consider declaring a dividend for the financial year 2022-23.

“Further, in terms of Regulation 29 (1) (e) of the SEBI (LODR) Regulations, 2015, notice is given that in the above meeting, the Board will also consider the declaration of dividend, if any, for the financial year 2022. Could- 23.”

The Mumbai-based state-run bank reported a 68% increase in its net profit, which is at a record high. 14,205 crore during the third quarter ending December 2022 as compared to Rs. crore in the year-ago quarter.

Its net interest income (NII), which is the difference between interest earned and spent, rose 24% 38,068 crore to Rs. 30,687 crore year-on-year (YoY). Domestic net interest margin (NIM) for Q3FY23 increased by 29 bps YoY to 3.69%.

The Mumbai-based lender’s asset quality improved in terms of gross bad loans as a ratio of total loans declined to 3.14% from 3.52% a quarter ago. Its net NPA stood at 0.77% as compared to 0.80% quarter-on-quarter (QoQ). Slipped for provisions and contingencies 5,760 crores Vs. 3,038 crore QoQ and 6,974 cr Yo.

SBI stock was at day’s high was 587.5 and lower 576.35. The market capitalization of the bank was 520,661.86 crores. It had a 52-week high 629.65 and was a 52-week low 430.8. In the Bombay Stock Exchange, the bank had a volume of 414,153 shares.

SBI share 573.45, a decrease of 1.71% from yesterday’s closing price 583.4. The net change in value was -9.95.