SBI Q4/FY20 RESULTS:SBI profits grow 4-fold to Rs 3,581 crore, fresh slippages decline 51%

Q4FY20 / FY20 RESULTS

Highlights•

Bank registered a Net Profit of Rs.3581 Crores in Q4FY20,an increase of 327% over Q4FY19.

• For the full year FY20, Net Profit stood atRs. 14,488 Cr against Net Profit of Rs.862 Croresin FY19. This is also the Highest ever Yearly Net Profit recorded by the Bank.
• Operating Profit increased to Rs. 68,133 Crores in FY20 from Rs.55,436 Crores in FY19, an increase of 22.90% YoY.
• Net Interest Income of the Bank grew by 11.02% YoY during FY20.
• Domestic Net Interest Margin (NIM )improved to 3.19% in FY20, registering an increase of 24bps YoY.
• Non-Interest Income for FY20 at Rs. 45,221 Cr is up by 22.97% YoY.
• Total Deposits grew at 11.34% YoY, out of which Current Account Deposit grew by7.56% YoY, while Saving Bank Deposits grew by 9.99%YoY.
• Credit Growth stood at 5.64% YoY,mainly driven by Retail(Personal)Advances (15.40% YoY) and Foreign Office Advances (18.05% YoY).
• Home loan, which constitutes 22% of Bank’s domestic advances, has grown by 13.86% YoY.
• Net NPA ratio at 2.23% is down 78bps YoY and 42bps QoQ.Gross NPA ratio at 6.15%isdown 138 bps YoY and 79bps QoQ.•Provision Coverage Ratio (PCR)hasimproved to 83.62%, up 489bps YoY and 189bps QoQ.
• Slippages Ratio for FY20 has declined to 2.16% from 2.42% as at the end of 9MFY20.
• Credit Cost as at the end of FY20 has declined 79bps YoY to 1.87%.
• Cost to Income Ratio has improved from 55.70% in FY19 to 52.46% in FY20,an improvement of 324 bps.
• Capital Adequacy Ratio (CAR) has improved by 34 bps YoY to 13.06% as on Mar 2020.
• Return on Assets(RoA)increased by 36 bps YoY to 0.38% in FY20 against 0.02% in FY19.
• Share of Alternate Channels in total transactions has increased from 88% in FY19 to 91% in FY20.

June 5 2020 India :

State Bank of  India ,the country’s largest lender  today reported a standalone profit of Rs 3,580.81 crore in January-

Slippages ratio for Q4FY20 has declined to 1.41 percent from 2.94 percent as of Q3FY20, said the bank, adding provision coverage ratio (PCR) has improved to 83.62 percent in March quarter, up 189 bps QoQ.

Recovery and upgradation was lower at Rs 2,528 crore in March quarter, against Rs 13,553 crore in December quarter of current financial year.

Provisions for bad loans jumped significantly by 86.1 percent sequentially to Rs 13,495 crore, but were down 18.2 percent compared to corresponding quarter of last fiscal.