SBI in the process of hiring 12,000 employees for IT and other roles: Dinesh Khara
SBI in the process of hiring 12,000 employees for IT and other roles: Dinesh Khara
State Bank of India (SBI), country’s largest lender, is in the process of hiring around 12,000 employees for information technology (IT) and other roles, Chairman Dinesh Khara said on May 9. These new employees, Khara said, will be given some exposure around banking and some of them would be later shifted to IT and other associate roles.
“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,” Khara said.
For the financial year ended March 2024, the bank had a total employee count of 2,32,296, falling from 2,35,858 in FY23.
Khara also said that the bank is also specifically looking at hiring new employees for technology skills. “Of late, we have started hiring for technology skills,” Khara said.
Q4 numbers
The bank on May 9 reported 24 percent rise in net profit at Rs 20,698 crore for the quarter ended March 31, 2024, aided by strong loan demand. SBI reported net profit of Rs 16,695 crore in the year-ago period. The profit surpassed estimates of Rs 13,400 crore by analysts.
SBI’s interest earned grew 19 percent to Rs 1.11 lakh crore in the reported quarter as against Rs 92,951 crore a year ago.
The bank’s asset quality improved in the March quarter. The gross non-performing asset (GNPA) of SBI came in at 2.24 percent as against 2.78 percent last year, while net NPA came in at 0.57 percent compared to 0.67 percent last year. At the post results press conference, Dinesh Khara, Chairman, SBI, said that the GNPA is the lowest in 10 years at 2.24 percent.
In Q4FY24, total income rose to Rs 1.28 lakh crore from Rs 1.06 lakh crore in the year-ago period, while operating expenses grew at a relatively slower rate at Rs 30,276 crore from the year-ago period’s Rs 29,732 crore.
The overall provisions nearly halved to Rs 1,609 crore from Rs 3,315 crore in the year-ago period.