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State Bank of India
Source Name: State Bank of India

Q1 FY15 Results of State Bank of India

Aug 08, 2014   15:17 IST 
India

HIGHLIGHTS

• Operating Profit increased by 16.37% from Rs.7,551 crores in Q1FY14 to Rs. 8,788 crores in Q1FY15.

• Net interest income increased by 15.12% from Rs. 11,512 crores in Q1 FY 14 to Rs.13,252 crores in Q1 FY 15.

• Fee income increased by 10.90% from Rs.2,558 crores in Q1 FY 14 to Rs. 2,837 crores in Q1 FY 15.

• Operating income increased by 9.50% from Rs. 15,986 crores in Q1 FY 14 to Rs. 17,504 crores in Q1 FY 15.

• Net Profit increased by 3.33% to Rs. 3,349 crores in Q1 FY15 from Rs.3,241 crores in Q1 FY 14.

• Gross NPA ratio is down by 66 bps to 4.90% in Q1 FY 15 as against 5.56% in Q1 FY 14.

 

PROFITABILITY

 

Q1 FY15 OVER Q1FY14

• Total Interest Income increased from Rs. 31,718 crores in Q1FY14 to Rs. 36,487 crores in Q1FY15.(15.03% YoY growth).

• Interest Income on Advances increased from Rs. 23,846 crores in Q1FY14 to Rs. 27,560 crores in Q1FY15. ( 15.57% YoY growth).

• Interest Income on Resource Operations increased from Rs.7,474 crores in Q1FY14 to Rs.8,649 crores in Q1FY15 (15.73% YoY growth).

• Interest Expenses on Deposits increased from Rs. 18,086 crores in Q1FY14 to Rs. 20,906 crores in Q1FY15.(15.59% YoY growth).

• Operating Expenses increased from Rs.8,435 crores in Q1FY14 to Rs.8,717 crores in Q1FY15 (3.34%YoY growth).

• Staff Expenses marginally increased to Rs.5,565 crores in Q1 FY 15 against Rs.5,539 crores in Q1FY14 (0.45% YOY growth). 2

• Overhead expenses growth contained to 8.86% (Rs.3152 crores in Q1 FY15 against Rs.2896 crores in Q1 FY14).

 

DEPOSITS

• Deposits of the Bank increased from Rs.12,57,389 crores in June 13 to Rs.14,18,915 crores in June 14, representing a 12.85% growth.

• Savings Bank Deposits increased from Rs.4,38,639 crores in June 13 to Rs.4,89,422 crores in June 14, representing a 11.58% growth.

 

ADVANCES

• Gross Advances increased from Rs 10,95,145 crores in June 13 to Rs 12,32,288 crores in June 14, representing a 12.52% YOY growth.

• Credit Deposit Ratio (Domestic) declined by 90 bps from 78.8% in June 13 to, 77.9% in June 14.

• Large Corporate Advances increased from Rs. 1,69,142 crores in June 13, to Rs. 2,26,261 crores in June 14(33.77% YoY growth).

• Mid-Corporate Advances increased from Rs.2,07,026 crores in June 13 to Rs.2,16,087 crores in June 14(4.38% YoY growth).

• Retail Advances increased from Rs.2,16,583 crores in June 13 to Rs. 2,42, 480 crores in June 14(11.96% YoY growth).

          # Home loans increased from Rs. 1,24,772 crores in June 13 to Rs. 1,44,210 crores in June 14(15.58%YoY growth).

          # Auto Loans increased by 6.78% from Rs.26,411 crores to Rs.28,202 crores in June 14 and Education Loans increased by 7.21% from Rs.13,940 crores to Rs.14,945 crores in June 14.

• SME Advances declined from Rs.1,75,407 crores in June 13 to Rs.1,73,010 crores in June 14(-1.37% YoY growth).

• Direct Agri Advances increased from Rs.1,10,035 crores in June 13 to Rs.1,23,638 crores in June 14.(12.36% YoY growth).

• International Advances increased from Rs.1,86,158 crores in June 13 to Rs.2,23,758 crores in June 14(YoY growth of 20.20%).

 

ASSET QUALITY:

 

                           Gross NPA (%)              Net NPA (%)                  PCR(%)

June 13            5.56                                  2.83                                 60.60

Sep 13              5.64                                 2.91                                  60.16

Dec13               5.73                                 3.24                                  58.32

March 14          4.95                                 2.57                                  62.86

June 14            4.90                                 2.66                                  62.68

 

• Fresh Slippage down from Rs.13,766 crores in June 13 to Rs.9,932 crores in June 14 (- 27.85% YoY).

• Gross NPAs declined from Rs.60,891 crores in June 13 to Rs.60,434 crores in June 14.

 

KEY FINANCIAL RATIOS (SBI):

• Return on Assets 0.74% in June 14 against 0.65% in FY:14.

• Return on Equity 11.94% in June 14 against 10.49% in FY:14.

• Average Cost of Deposits moved to 6.28% in June 14 from 6.21% in June 13.

• Yield on Advances moved to 10.58% in June 14 from 10.23% in June 13.

• Earnings per share increased from Rs.156.76 in FY: 14 to Rs.179.44 in June 14.

• Domestic NIM increased from 3.44% in June 13 to 3.54% in June 14(10 bps YoY growth).

• Capital Adequacy Ratio of the Bank in June 14 as per Basel III is 12.33 %( Tier at 9.63%) and 12.56% (Tier I at 9.86%) with retained profits.

 

Performance of Associates and Subsidiaries:

• SBI Cards & Payment Services (Pvt) Ltd registered a Net Profit after tax of Rs.114 crores in Q1 FY15 against Rs.67 crores in Q1FY14 (YOY growth of 70.13%).

• SBI Funds Management Pvt Ltd recorded a YOY growth of 16.90% in Net Profit from Rs.33 crores in Q1 FY 14 to Rs.39 crores (Q1FY15).

• SBI Life Insurance Company Ltd posted a Net Profit after tax of Rs. 241 crores in Q1 FY15, a YOY growth of 13.56%, from Rs.213 crores in Q1FY14.

• Net Profit of the 5 Associate Banks declined from Rs.837 crores in Q1FY14 to Rs.702 crores in Q1FY15 (-16.09% YoY growth). 4

• All our Foreign Banking Subsidiaries (FBS) recorded a YoY growth of 123% in Net Profit after tax (at Rs.70 crores in Q1 FY 15 against Rs.31 crores in Q1 FY 14).

• SBI Group Operating Profit for Q1FY15 at Rs.11,545 crores is up by 11.77% from Rs.10,329 crores in Q1FY14, while Net Profit is up by 3.48% at Rs.4,448 crores from Rs.4,299 crores in Q1FY14.

 

ANNEXURE

Details of Profit and Loss account for stand alone are as follows:

 

Parameter                                                                     Q1FY14                                     Q1FY15                                        Growth (%) -Q1FY15OverQ1FY14

Interest on Advances                                                    23,846                                       27560                                           15.57

Int. on Resources Operations                                    7,474                                         8649                                              15.73

Other Interest Income                                                   398                                             278                                                -30.16

Total Interest income                                                  31,718                                       36487                                            15.03

Interest Expenses                                                         20,206                                       23235                                            14.99

Net Interest Income                                                    11,512                                       13252                                             15.12

Non-Interest Income                                                   4,474                                          4252                                               -4.97

Operating Income                                                        15,986                                       17504                                              9.50

Staff Expenses                                                               5,539                                          5565                                                0.45

     of which : Payment to Employees                         4,316                                         4661                                                 7.98

                      Contribution for Employees                  1,223                                          904                                                  -26.12

Overhead Expenses                                                     2,896                                         3152                                                 8.86

Operating Expenses                                                   8,435                                         8717                                                 3.34

Operating Profit                                                           7,551                                         8788                                                 16.37

Total Provisions                                                            4,310                                         5439                                                  26.18

Income Tax                                                                    1,444                                         1942                                                  34.45

Loan Loss                                                                     2,266                                         3903                                                 72.27

Investment Depreciation                                            531                                            -552

Standard Assets                                                          88                                                77                                                     -12.66

Other Provisions                                                         -19                                                68

Net Profit                                                                      3,241                                           3349                                                   3.33


 
 
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