Top Indian Banks Report Mixed Q3 FY25 Results Amid Economic Shifts In the third quarter of fiscal year 2025, India's leading banks delivered a mixed financial performance, reflecting the evolving economic landscape. While some banks posted strong growth, others encountered challenges affecting profitability.
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In the third quarter of fiscal year 2025, India's leading banks delivered a mixed financial performance, reflecting the evolving economic landscape. While some banks posted strong growth, others encountered challenges affecting profitability.
State Bank of India (SBI), the nation's largest lender, exceeded market expectations with a net profit of INR 16,891 crore, up from INR 9,164 crore in the same quarter last year. This growth was fueled by a 14.06 per cent increase in domestic loans, driven by a 14.86 per cent rise in corporate loans and an 11.65 per cent expansion in retail personal loans. However, SBI's domestic net interest margin (NIM) declined to 3.15 per cent from 3.34 per cent a year earlier.
Bank of Baroda, India's third-largest state-owned bank, announced plans to double its balance sheet over the next five years. In Q3 FY25, it posted a 6 per cent rise in net profit to INR 4,837 crore. However, its NIM fell to 3.11 per cent from 3.27 per cent in the previous quarter.
Punjab National Bank (PNB) recorded a 102.8 per cent year-over-year (YoY) surge in net profit to INR 4,508 crore, up from INR 2,223 crore in Q3 FY24. Net interest income grew 7.2 per cent YoY to INR 11,032 crore. For the nine-month period ending December 31, 2024, PNB's net profit reached INR 12,063 crore, reflecting a 130.5 per cent increase.
ICICI Bank reported a profit before tax (PBT) of INR 15,660 crore for Q3 FY25, slightly up from INR 15,490 crore in the previous quarter. Profit after tax (PAT) rose marginally to INR 11,792 crore from INR 11,746 crore in Q2 FY25, bringing its nine-month cumulative PAT to INR 34,597 crore. Net interest income for the quarter stood at INR 20,371 crore.
Axis Bank posted a PAT of INR 6,304 crore for Q3 FY25, down from INR 6,918 crore in the previous quarter. For the nine-month period ending December 2024, PAT increased to INR 19,256 crore from INR 17,732 crore a year earlier. The bank's net interest income grew 9 per cent YoY and 1 per cent quarter-on-quarter (QoQ).
Kotak Mahindra Bank recorded a PAT of INR 3,305 crore in Q3 FY25, reflecting a 10 per cent YoY increase. For the nine months ending December 2024, PAT rose five per cent YoY to INR 10,168 crore.
Overall, India's major banks demonstrated resilience in Q3 FY25, with strong loan growth and profitability in some cases, while others faced pressure from narrowing margins.
