SBI Q3 FY22: Net profit up by 62% YoY to Rs. 8,432 crores
Operating Profit increased by 6.86% YoY to Rs. 18,522 crores in Q3FY22 from Rs.17,333 crores in Q3FY21.
New Delhi: Country's largest public lender, the State Bank of India (SBI) on Saturday reported an increase of 62.27% YoY in its net profit at Rs 8,431.88 crore compared with Rs 5,196.22 crore in the corresponding quarter last year.
Bank's Net Interest Income (NII) for Q3 FY22 increased by 6.48% YoY. and Operating Profit by 6.86% YoY to Rs. 18,522 crores from Rs.17,333 crores in Q3FY21.
Home loan, which constitutes 24% of the Bank’s domestic advances, has grown by 11.15% YoY. Growth in the Corporate and SME segment has also picked up during the Quarter.
Other Highlights:
• 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.
• 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, the Gross NPA ratio is down by 27 bps YoY while the 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 a 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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