7 Feb 2022 , 10:45 AM
State Bank of India (SBI) has registered its highest quarterly standalone net profit of Rs8,432cr in Q3FY22, up 62.27% yoy, compared with Rs5,196cr in the corresponding quarter last year. Net interest income rose 6.48% yoy to Rs30,687cr in Q3FY22 from Rs28,820cr in Q3FY21.
Net Interest Income (NII) for Q3FY22 increased by 6.48% yoy to Rs30,687 cr from Rs28,820cr. Operating profit increased by 6.86% yoy to Rs18,522cr in Q3FY22 from Rs17,333cr in Q3FY21.
Return on Equity (RoE) as at the end of Q3FY22 stands at 14.01% which is higher by 452 bps yoy. Domestic NIM for Q3FY22 at 3.40%, has increased by 6 bps YoY.
Whole Bank Advances grew by 8.47% yoy. Domestic Advances growth stood at 6.47% yoy driven by growth in Personal Retail Advances (14.57% yoy). Foreign Office Advances grew by 21.35% yoy.
Home loan, which constitutes ~24% of Bank’s domestic advances, has grown by 11.15% yoy. Growth in Corporate and SME segment has also picked up during the Quarter.
Total Deposits grew at 8.83% yoy. Saving Bank Deposits grew by 10.30% yoy while Current Account Deposits grew by 7.89% yoy. Gross NPA ratio at 4.50% is down by 94 bps YoY while Net NPA ratio at 1.34% is down by 47 bps YoY, taking into consideration proforma NPAs as on Dec 20. On an unadjusted basis, Gross NPA ratio is down by 27 bps yoy while Net NPA ratio is up by 11 bps yoy.
Provision Coverage Ratio (PCR) as at the end of Q3FY22 stands at 88.32%. Slippage Ratio for Q3FY22 stands at 0.37% only. Credit Cost for Q3FY22 stands at 0.49%. Cost to Income Ratio at 52.94% during Q3FY22 is lower by 153 bps yoy. Capital Adequacy Ratio (CAR) as at the end of Q3FY22 stands at 13.23% without including 9MFY22 Profit. If we include profit of 9MFY22, the CAR will improve by 94 bps.
Return on Assets (RoA) as at the end of Q3FY22 stands at 0.64%, which is higher by 19 bps yoy. Share of Alternate Channels in total transactions has increased from 93% in 9MFY21 to 95% in 9MFY22.
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