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State Bank of India
Source Name: State Bank of India

State Bank of India Results H1FY15

Nov 14, 2014   14:30 IST 
India

HIGHLIGHTS:

  • Operating Profit increased by 33.43% from Rs.6,312 crores in Q2FY14 to Rs. 8,422 crores in Q2FY15.

  • Net Interest Income increased by 8.36% from Rs. 12,251 crores in Q2FY14 to Rs.13,275 crores in Q2FY15.

  • Fee Income increased by 18.98% from Rs.2,615 crores in Q2FY14 to Rs. 3,111 crores in Q2FY15.

  • Operating Income increased by 14.91% from Rs. 15,529 crores in Q2FY14 to Rs. 17,845 crores in Q2FY15.

  • Net Profit increased by 30.54% to Rs.3100 crores in Q2FY15 from Rs.2,375 crores in Q2FY14.

  • Gross NPA ratio is down by 75 bps to 4.89% in Q2FY15 as against 5.64% in Q2FY14.

 

 

 

 

 

 

 

PROFITABILITY:

 

Q2FY15 OVER Q2FY14

  • Total Interest Income increased from Rs. 33,922 crores in Q2FY14 to Rs.37,263 crores in Q2FY15 (9.85%YOY growth).

  • Interest Income on Advances increased from Rs. 25,379 crores in Q2FY14 to Rs. 27,869 crores in Q2FY15 (9.81%YOY growth).

  • Interest Income on Resource Operations increased from Rs.8,243 crores in Q2FY14 to Rs.9,166 crores in Q2FY15 (11.20%YOY growth).

  • Total Interest Expenses increased from Rs.21,671 crores in Q2FY14 to Rs. 23,988 crores in Q2FY15 (10.69%YOY growth).

  • Interest Expenses on Deposits increased from Rs. 19,277 crores in Q2FY14 to Rs. 21,900 crores in Q2FY15 (13.60%YOY growth).

  • Operating Expenses increased from Rs. 9,218 crores in Q2FY14 to Rs.9,423 crores in Q2FY15 (2.23%YOY growth).

  • Staff Expenses decreased from Rs. 5,819 crores in Q2FY14 to Rs.5,564 crores in Q2FY15 (4.38%YOY decline).

 

 

 

H1FY15 OVER H1FY14

  • Interest Income on Advances increased from Rs. 49,225 crores in H1FY14 to Rs. 55,429 crores in H1FY15 (12.60%YOY growth).

  • Interest Income on Resources Operations increased from Rs. 15,717 crores in H1FY14 to Rs.17,815 crores in H1FY15 (13.35%YOY growth).

  • Interest paid on deposits increased from Rs. 37,363 crores in H1FY14 to Rs.42,806 crores in H1FY15 (14.57%YOY growth).

  • Non Interest Income increased from Rs. 7,752 crores in H1FY14 to Rs. 8,823 crores in H1FY15 (13.81%YOY growth).

  • Staff Expenses decreased from Rs.11,358 crores in H1FY14 to Rs.11,129 crores in H1FY15 (2.02 %YOY decline).

 

DEPOSITS

  • Deposits of the Bank increased from Rs.12,92,456 crores in Sep 13 to Rs.14,73,785 crores in Sep 14.( 14.03%.YOY growth)

  • Savings Bank deposits increased from Rs.4,45,443 crores in Sep 13 to Rs. 5,00,861 crores in Sep 14 (12.44% YOY growth) .

 

 

 

ADVANCES

  • Gross Advances increased from Rs. 11,39,326 crores in Sep 13 to Rs.12,42,638 crores in Sep 14 (9.07% YOY growth).

  • Large Corporate advances increased from Rs.1,98,773 crores in Sep 13 to Rs.2,33,012 crores in Sep 14 (17.23%. YOY growth).

  • Mid-Corporate Advances declined from Rs.2,22,050 crores in Sep 13 to Rs.2,15,880 crores in Sep 14 (2.78% YOY decline).

  • Retail advances increased from Rs.2,24,168 crores in Sep 13 to Rs.2,49,259 crores in Sep 14 (11.19% YOY growth). Home loans increased from Rs.1,30,034 crores in Sep 13 to Rs.1,48,502 crores in Sep 14 (14.20% YOY growth).

  • SME Advances increased from Rs. 1,65,686 crores in Sep 13 to Rs.1,68,011 crores in Sep 14(1.40%YOY growth).

  • Direct Agri advances increased from Rs.1,11,503 crores in Sep 13 to Rs.1,21,120 crores in Sep 14 (8.62% YOY growth).

  • International advances increased from Rs.1,89,173 crores in Sep 13 to Rs.2,27,246 crores in Sep 14 (20.13% YOY growth).

 

 

 

 

 

ASSET QUALITY:

 

Gross NPA (%)

Net NPA (%)

PCR(%)

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

Sep 14

4.89

2.73

63.18

 

  • Gross NPAs declined from Rs.64,206 crores in Sep 13 to Rs.60,712 crores in Sep 14.(5.44% YOY decline)

 

 

 

KEY FINANCIAL RATIOS (SBI):

  • Return on Assets 0.71% in Sep 14 against 0.69% in Sep 13.

  • Return on Equity 11.49% in Sep 14 against 11.77 % in Sep 13.

  • Average Cost of Deposits moved to 6.31% in Sep 14 from 6.22% in Sep 13.

  • Average Yield on Advances moved from 10.32 % in Sep 13 to 10.57% in Sep 14.

 

 

 

 

 

Performance of Associates and Subsidiaries:

  • SBI Capital Markets Ltd (consolidated) has registered a net profit of Rs.165.82 crores in H1FY15 up from Rs.126.15 crores in H1FY14 (31.45%YOY growth).

  • SBI Funds Management Pvt Ltd registered a net profit of Rs.82.60 crores in H1FY15 against Rs.75.26 crores in H1FY14 (9.75% YOY growth).

  • SBI Cards & Payments Services Pvt Ltd registered a net profit of Rs.194.20 crores in H1FY15 against Rs.143.38 crs in H1 FY 14 (35.44% YOY growth).

  • SBI Life Insurance Company Ltd posted a Net Profit of Rs.458.58 crores, in H1FY15 from Rs.431.70 crores in H1FY14(6.23% YOY growth).

  • Net Profit (after minority interest) of SBI Group has increased from Rs 7371 crores in H1FY14 to Rs 8472 crores in H1FY15 (14.93% YOY growth).

 

 

ANNEXURE:

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

 

2013-14

2014-15

Growth H1FY15 Over H1FY14

Growth Q2FY15 Over Q2FY14

 

Q2

H1

Q2

H1

%

%

Interest on Advances

25379

49225

27869

55429

12.60

9.81

Interest on Resources Operations

8243

15717

9166

17815

13.35

11.20

Others Sundry Interest

300

698

228

506

-27.57

-24.14

Total Interest Income

33922

65640

37263

73750

12.35

9.85

Interest on Deposits

19277

37363

21900

42806

14.57

13.60

Interest on Borrowings

1468

2683

952

2155

-19.70

-35.12

Others Sundry Interest

926

1831

1136

2263

23.57

22.71

Total Interest Expenses

21671

41877

23988

47223

12.77

10.69

Net Interest Income

12251

23763

13275

26527

11.63

8.36

Non-Interest Income

3278

7752

4571

8823

13.81

39.43

Operating Income

15529

31515

17845

35350

12.17

14.91

Staff Expenses

5819

11358

5564

11128

-2.02

-4.38

Overhead Expenses

3399

6294

3859

7012

11.39

13.55

Operating Expenses

9218

17652

9423

18140

2.76

2.23

Operating Profit

6312

13863

8422

17210

24.14

33.43

Income Tax Provisions

908

2352

1047

2988

27.05

15.27

Loan Loss Provisions

2645

4911

4028

7931

61.50

52.26

Investment Depreciation

8

540

-1

-553

 

 

Standard Assets Provision

448

536

159

236

-55.98

-64.48

Other Provisions

-73

-93

89

157

 

 

Total Provisions

3937

8247

5322

10760

30.48

35.18

Net Profit

2375

5616

3100

6449

14.84

30.54

 


 
 
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