SBI's Record Dividend: Boosting Government Coffers

State Bank of India has paid a record dividend of Rs 8,076.84 crore to the government for the fiscal year 2024-25. This follows a 16% increase in net profit, reaching Rs 70,901 crore. SBI had previously distributed Rs 6,959.29 crore as a dividend last year.

The State Bank of India (SBI), the country's largest lender, has significantly contributed to the government's finances this year with a record dividend payment of Rs 8,076.84 crore for the 2024-25 fiscal year.

The dividend cheque was formally handed to Finance Minister Nirmala Sitharaman by SBI Chairman C S Setty, with key financial officials in attendance, including Financial Services Secretary M Nagaraju and Finance Secretary Ajay Seth.

SBI announced a dividend of Rs 15.90 per share, surpassing last year's payout of Rs 13.70 per share. The bank saw a remarkable net profit increase of 16%, achieving Rs 70,901 crore compared to the previous year's Rs 61,077 crore.

(With inputs from agencies.)