SBI falls as Q1 PAT declines 6% YoY

8 Aug 2022 , 09:40 AM

Net Interest Income (NII) increased by 12.87% YoY to Rs 31,196 crore during the quarter. Net Interest Margin (domestic) was at 3.23% in Q1 FY23 as against 3.15% in Q1 FY22. Operating profit tanked by 32.79% year on year to Rs 12,753 crore in the quarter ended 30 June 2022, impacted by MTM Losses on investment book. Provisions and contingencies declined by 56.3% to Rs 4,392.38 crore in Q1 FY23 over Q1 FY22. Provision Coverage Ratio (PCR) improved by 719 bps YoY at 75.05%. PCR (Incl. AUCA) stands at 90.14%. Profit before tax in Q1 FY23 stood at Rs 8,360.18 crore, down by 6.3% from Rs 8,922.86 crore in Q1 FY22. The banks gross non-performing assets (NPAs) stood at Rs 1,13,272 crore as on 30 June 2022 as against Rs 1,12,023 crore as on 31 March 2022 and Rs 1,34,259 crore as on 30 June 2021. The ratio of gross NPAs to gross advances stood at 3.91% as on 30 June 2022 as against 3.97% as on 31 March 2022 and 5.32% as on 30 June 2021. The ratio of net NPAs to net advances stood at 1% as on 30 June 2022 as against 1.02% as on 31 March 2022 and 1.77% as on 30 June 2021. Total Deposits grew 8.73% to Rs 40,45,696 crore as on 30 June 2022 as against Rs 37,20,987 crore as on 30 June 2021. Whole bank advances increased by 14.9% to Rs 29,00,636 crore as on 30 June 2022 as against Rs 25,23,793 crore as on 30 June 2021. The bank said that the MTM hit also had an adverse impact on banks return on assets (ROA) and return on equity (ROE), which stands at 0.48% and 10.09% respectively. Capital adequacy ratio (CAR) as at the end of Q1 FY23 stood at 13.43%. Slippage ratio for Q1 FY23 stands at 1.38%, improved by 109 bps YoY while credit cost improved by 18 bps YoY to 0.61%. State Bank of India (SBI) is an Indian multinational, public sector banking and financial services statutory body. As of 30 June 2022, the Government of India held 57.57% stake in the bank.Powered by Capital Market – Live News