SBI aims to become first financial firm to cross Rs 1 trn profit: Chairman

State Bank of India (SBI) is aiming to become the first Indian financial firm to cross a milestone of Rs 1 lakh crore net profit in the next 3-5 years, chairman of the country's largest lender C S Setty has said.

SBI recorded a standalone net profit of Rs 61,077 crore in FY24, registering a growth of 21.59 per cent.

"We have potential. Definitely, we would like to be the first company in India to reach that milestone," Setty said when asked if it is possible to cross Rs 1 lakh crore in the next 3-5 years.

However, he said, "while profits, market capitalization etc are extremely important elements for our organization, we give equal thrust on customer-centricity and it acts as a fundamental aspect of our operations."

With regard to corporate loan demand, Setty said, the bank has already got a Rs 4 lakh crore strong credit pipeline from India Inc and capital expenditure by the private sector is expected to pick up in the second half of the fiscal year.

"We see a good amount of inter