SBI Q1 Results for the quarter ended June 2021

State Bank of India results for the quarter ended June 2021

• Bank has registered its highest quarterly Net Profit of Rs. 6,504 Crores in Q1FY22. This represents increase of 55.25% YoY.
• The Operating Profit increased by 5.06% to Rs. 18,975 Crores in Q1FY22 from Rs.18,061 Crores in Q1FY21. The operating profit excluding exceptional item increased by 14.85%.
• Net Interest Income for Q1FY22 increased by 3.74% YoY.
• Domestic NIM for Q1FY22 at 3.15%, has declined by 9 bps YoY.
• Non-Interest Income for Q1FY22 at Rs.11,803 Crores grew by 24.28% YoY.
• Total Deposits grew at 8.82% YoY. Current Account Deposits grew by 11.75% YoY and Saving Bank Deposits grew by 10.55% YoY.
• Domestic Credit Growth stood at 5.64% YoY, mainly driven by Retail (Personal) Advances (16.47% YoY), Agri Advances (2.48% YoY) and SME (2.01% YoY).
• Including the growth in Corporate Bonds / CPs at Rs.23,346 crores, the loan book has grown by 6.27% YoY.
• Home loan, which constitutes 23% of Bank’s domestic advances, has grown by 10.98% YoY.
• Net NPA ratio at 1.77% is down 9 bps YoY. Gross NPA ratio at 5.32% is down 12 bps YoY.
• Provision Coverage Ratio (PCR) is at 85.93%, down 39 bps YoY.
• Slippage Ratio for Q1FY22 is at 2.47% from 0.60% as at the end of Q1FY21.
• Credit Cost as at the end of Q1FY22 has declined 77 bps YoY to 0.79%.
• Cost to Income Ratio has declined by 261 bps sequentially from 54.50% in Q4FY21 to 51.89% in Q1FY22, while it has increased by 187 bps YoY.
• Capital Adequacy Ratio (CAR) has improved by 26 bps YoY to 13.66% as on Jun 2021 – without including Q1FY22 Profit.
• Return on Assets (RoA) increased by 15 bps YoY to 0.57% in Q1FY22 against 0.42% in Q1FY21.
• Return on Equity (RoE) increased by 357 bps YoY to 12.12% in Q1FY22 against 8.55% in Q1FY21.
• Share of Alternate Channels in total transactions has increased from 93% in Q1FY21 to 95% in Q1FY22.