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 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):

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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