State Bank of India Q3 Results FY2023, PAT at Rs. 14,205 crores

On 3rd February, the State Bank of India announced its results for the third quarter of FY2023.

Key Highlights:

- Net Interest Income (NII) for Q3FY23 increased by 24.05% YoY. 
- Domestic NIM for Q3FY23 increased by 29 bps YoY to 3.69%.
- Operating Profit for Q3FY23 at Rs. 25,219 crores; grew by 36.16% YoY.
- Highest ever quarterly Net Profit at Rs. 14,205 crores; grew by 68.47% YoY.
- ROA at 1.08% for the quarter improved by 37 bps YoY.

Business Highlights:

- Credit growth at 17.60% YoY with Domestic Advances growing by 16.91% YoY. 
- Foreign Offices’ Advances grew by 21.47% YoY. 
- Domestic Advances growth was driven by Retail Personal Advances (18.10% YoY) followed by Corporate Advances which grew by 18.08% YoY. 
- Retail Personal Advances (excl. REH) cross Rs. 5 lakh crores. 
- SME and Agri loans have registered YoY growth of 14.16% and 11.52% respectively. 
- Whole Bank Deposits grew at 9.51% YoY, out of which CASA Deposit grew by 5.88% YoY. CASA ratio stands at 44.48% as on 31st December 22.
- Net NPA ratio at 0.77% down by 57 bps YoY. 
- Gross NPA ratio at 3.14% down by 136 bps YoY. 
- Provision Coverage Ratio (PCR) at 76.12% improved by 490 bps YoY. 
- Slippage Ratio for Q3FY23 stands at 0.41% 
- Credit Cost for Q3FY23 at 0.21%; improved by 28 bps YoY.
- Capital Adequacy Ratio (CAR) as at the end of Q3FY23 stands at 13.27%.
- 64% of SB accounts and 41% of retail asset accounts were acquired digitally through YONO.  - The share of Alternate Channels in total transactions increased from 95.3% in 9MFY22 to 97.2% in 9MFY23.