State Bank of India Q4 Results 2022: registered highest quarterly Net Profit of Rs.9,114 crores

On 13th May 2022, State Bank of India announced its quarterly results for the last quarter of FY2022.

Key Highlights:

Q4FY22:

- Bank has registered its highest quarterly Net Profit of Rs. 9,114 crores in Q4FY22, witnessing a growth of 41.28% YoY.

- Net Interest Margin (NIM) for Q4FY22 increased by 29 bps YoY at 3.40% from 3.11 in Q4FY21

- Operating Profit for Q4FY22 at Rs.19,717 crores from Rs.19707 crores with a growth of 0.08%

- The bank reported revenue of Rs.70773 crores from Rs.65102 crores.
 

FY2022:

- Bank has registered its Net Profit of Rs.31676 crores in FY2022 from Rs.20410, witnessing a growth of 55.19% YoY.

- NIM for FY2022 increased by 10 bps YoY at 3.36% from 3.26 in Q4FY21

- Operating Profit for FY2022 at Rs.75292 crores from Rs.71554 crores with a growth of 5.22%

- The bank reported revenue of Rs.275457 crores from Rs.265151 crores.

Other Highlights:

- Whole Bank Advances grew by 11.00% YoY. Domestic Advances growth 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 the Bank’s domestic advances, has grown by 11.49% YoY. 

- Corporate Loans has also registered a growth of 11.15% QoQ during Q4FY22. 

- Total Deposits grew at 10.06% YoY. Saving Bank Deposits grew by 10.45% YoY while Term Deposits grew by 11.54% YoY. 

- CASA Deposit grew by 7.78% YoY with a CASA ratio of 45.28% as of 31st March 22. 

- Gross NPA ratio is down by 101 bps YoY at 3.97%, while the Net NPA ratio is down by 48 bps YoY at 1.02%. 

- Provision Coverage Ratio (PCR) improved by 416 bps YoY at 75.04%. PCR (Incl. AUCA) stands at 90.20%. 

- Slippage Ratio for Q4FY22 stands at 0.43%. 

- Credit Cost for Q4FY22 stands at 0.49%. 

- Cost to Income Ratio for FY22 is down by 29 bps YoY at 53.31%. The cost to Income Ratio is lower by 27 bps 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 transactions has increased from 93.2% in FY21 to 95.5% in FY22.

SBI board has recommended a dividend of Rs 7.1 per share for the financial year ended March 31, 2022.