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SBI Securities' MD and CEO is optimistic and expects an increased profitability rate of 25% in the coming year

SBI Securities, the trading and investment arm of India’s largest and most trusted bank the State Bank of India, has released its annual financial results for the year ended March 31, 2023. The results demonstrate the company's strong growth and commitment to providing top-notch services to its clients.

In FY 22, the company reported total revenue of 830.86 cr, while in FY 23, the revenue increased to 1203.14 cr, with a growth rate of 44.8%. The net profit also increased from 233.01 cr in FY 22 to 308.04 cr in FY 23, with a growth rate of 32.2%. 

Looking at a 5-year horizon i.e., compared to FY’17-18, the net profit has grown by 307.5% and total income has grown by 236.5%. This excellent financial performance can be attributed to the company's strategic initiatives, innovative product offerings, and a robust business model.

Mr. Deepak Kumar Lalla, the MD&CEO of SBI Securities, expressed his satisfaction with the company's strong financial results for the year ended March 31, 2023, saying, "We have continued to focus on delivering value to our clients through a range of investment solutions. We have also leveraged technology to enhance our trading and investment platform to improve customer experience and operational efficiencies." He further stated, "Along with the markets expected to return to better conditions, SBI Securities is adding more investment avenues to increase its bouquet of products while focusing on client activation, leading to a projected 25% increase in profitability in the coming year."

SBI Securities has been at the forefront of digital innovation, and the company's investment in technology has continued to pay off. The company's digital platforms have helped it reach a wider audience reaching up to 3.6 million clients in total, including 1.1 million clients in FY 22-23 itself. The SBI Securities Trading & Investment App was awarded the ‘Best Mobile App Initiative – Stock Broking Company’ at the 2nd Annual NBFC and Fintech Excellence Awards 2023, the ‘Enterprise Mobility Award’ at BFSI Technology Conclave 2022 and ‘Digital Customer Experience Transformation Initiative Award’ at the Technology Excellence Awards 2022.

In addition to its financial success, SBI Securities has continued to expand its product offerings. The company has launched several new and unique investment products, including mutual fund packs and options arena, which have been well received by clients.

SBI Securities has also been recognized for its commitment to corporate social responsibility. The company has supported several initiatives aimed at promoting financial literacy and empowering underprivileged communities.

Overall, SBI Securities' financial results demonstrate the company's strong growth and continued commitment to providing innovative financial solutions to its clients. With a focus on technology and customer-centricity, SBI Securities is well positioned to continue its growth trajectory in the years to come.         

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