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SBI Q4 FY22 & Annual Results

SBI Q4 FY22 & Annual Results 1
Highlights·      Bank has registered its highest quarterly Net Profit of Rs. 9,114crores in Q4FY22, witnessing a growth of41.28% YoY. Net profit for FY22 grew by 55.19% YoY to Rs. 31,676 crores.·      Return on Equity(RoE)as at the end of FY22 stands at 13.92% which is higher by 398 bps YoY.·      Domestic NIM for Q4FY22increased by 29 bps YoY at 3.40%.·      Net Interest Income(NII)for Q4FY22 increased by 15.26% YoY.·      Operating Profitfor FY22 grew by 5.22% YoY to Rs. 75,292 crores; while Operating Profit for Q4FY22 atRs. 19,717crores.·      Whole Bank Advances grew by 11.00% YoY.Domestic Advancesgrowth stood at 10.27% YoY primarily driven by growth in Retail Personal Advances (15.11% YoY). Foreign Office Advances grew by 15.42% YoY.·      Retail Portfolio crosses Rs. 10 lakh crore.·      Home loan, which constitutes ~23% of Bank’s domestic advances, has grown by 11.49% YoY.·      CorporateLoanshas also registered growth of 11.15% QoQ during Q4FY22.·      Total Deposits grew at 10.06% YoY.Saving Bank Deposits grew by 10.45% YoY while Term Deposit grew by 11.54% YoY.·      CASA Deposit grew by 7.78% YoY with CASA ratio of 45.28% as on 31st March 22.·      Gross NPA ratiodown by 101 bps YoY at 3.97%,while Net NPA ratiodown by 48 bps YoYat 1.02%.·      Provision Coverage Ratio(PCR) improved by 416 bps YoY at 75.04%.PCR (Incl. AUCA) stands at 90.20%.·      Slippage Ratio for Q4FY22stands at0.43%.·      Credit CostforQ4FY22stands at 0.49%.·      Cost to Income Ratio for FY22 down by 29 bps YoY at 53.31%.Cost to Income Ratiois lower by 27bps YoY at 54.23% during Q4FY22.·      Capital Adequacy Ratio (CAR)as at the end of Q4FY22 stands at 13.83%·      Return on Assets(RoA)increased by 19 bps YoY to 0.67%.·      Share of Alternate Channels in total transactionshas increased from 93.2% in FY21 to 95.5% in FY22.

Key Summary of Q4FY22Results

In Rs CroresQ4FY21Q3FY22Q4FY22YoY %QoQ %FY21FY22YoY %
Profit & Loss
Interest Income65,10269,67870,7338.651.512,65,1512,75,4573.89
Interest Expenses38,03538,99139,5353.951.401,54,4411,54,7500.20
Net Interest Income27,06730,68731,19815.261.661,10,7101,20,7089.03
NIM, % (Domestic)3.113.403.4029 bps0 bps3.263.3610 bps
Operating Profit19,70018,52219,7170.086.4571,55475,2925.22
Loan loss provisions9,9143,0963,262-67.105.3527,24414,087-48.29
Exceptional Items*7,418
Profit after tax6,4518,4329,11441.288.0820,41031,67655.19

*Provisions on account of change in family pension rules

In Rs CroresMar 21Dec 21Mar 22YoY %QoQ %
Balance Sheet
Gross advances25,39,39326,64,60228,18,67111.005.78
  Domestic Corporate8,18,7057,83,3798,70,7126.3511.15
     Domestic Retail Personal8,70,7119,52,18910,02,30315.115.26
Of which: Home loans5,03,7795,38,4755,61,65111.494.30
Deposits36,81,27738,47,79440,51,53410.065.29
  Domestic CASA16,46,97417,00,68817,75,0847.784.37
  Domestic Term Deposits19,23,19120,17,82321,45,11711.546.31
CASA Ratio (%)46.1345.7445.28-85 bps-46 bps
GNPA1,26,3891,20,0291,12,023-11.37-6.67
NNPA36,81034,54027,966-24.03-19.03
Ratios, %Q4FY21Q3FY22Q4FY22YoY, bpsQoQ, bpsFY21FY22YoY, bps
Asset Quality
GNPA4.984.503.97-101-534.983.97-101
NNPA1.501.341.02-48-321.501.02-48
PCR (Incl AUCA)87.7588.3290.2024518887.7590.20245
PCR70.8871.2275.0441638270.8875.04416
Slippage Ratio3.570.370.43-31461.180.99-19
Credit Cost1.610.490.49-11201.120.55-57
Capital Ratios
CET-1 ratio10.029.389.94-85610.029.94-8
Tier-1 ratio11.4410.9111.42-25111.4411.42-2
CAR13.7413.2313.8396013.7413.839
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