A piece of good news for the job seekers in India as the country’s largest lender, State Bank of India (SBI) is all set to hire around 12,000 employees for information technology (IT) and other roles, announced the Chairman Dinesh Khara.
SBI Hiring 12000 Employees For IT
On May 9, Khara said that these new employees will be given some exposure around banking and some of them would be later shifted to IT and other associate roles.
Adding, “Around 11,000 to 12,000 employees are in the hiring process. These are general employees, but we actually are having a system where at our associate level and officers’ level around 85 percent of them are engineers. We give them some exposure to understand banking and thereafter we start channelising them into various associate roles and some of them will be channelized in IT.”
The bank had a total employee count of 2,32,296 for the financial year ended March 2024, which was reduced from the earlier figure of 2,35,858 in FY23.
The bank is also specifically looking at hiring new employees for technology skills, “Of late, we have started hiring for technology skills,” Khara said.
SBI Q4 Results
With a 24 percent rise in net profit at Rs 20,698 crore for the quarter ended March 31, 2024, which is aided by strong loan demand, as per the bank reported on 9 May.
For the same time period, SBI reported a net profit of Rs 16,695 crore a year-ago.
With these numbers, SBI’s profit surpassed estimates of Rs 13,400 crore by analysts.
Bank’s interest earned grew 19 percent to Rs 1.11 lakh crore for the reported quarter compared to Rs 92,951 crore a year ago.
Besides this there is an improvement in the bank’s asset quality during the March quarter.
In addition to that, SBI’s gross non-performing asset (GNPA) of SBI stood at 2.24 percent against 2.78 percent last year.
Its net NPA also stood at 0.57 percent compared to 0.67 percent last year.
The GNPA is the lowest in 10 years at 2.24 percent,said the chairman SBI, Dinesh Khara during the post results press conference.
For the Q4FY24, the total income rose to Rs 1.28 lakh crore from Rs 1.06 lakh crore in the year-ago period.
Its operating expenses grew at a relatively slower rate at Rs 30,276 crore from the year-ago period’s Rs 29,732 crore.
Moreover, the overall provisions nearly halved to Rs 1,609 crore from Rs 3,315 crore in the year-ago period.
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