State Bank of India Q4 Results FY2023, Profit at Rs. 16,695 crores

On 18th May 2023, the State Bank of India announced its quarterly results for the last quarter of FY2023.

State Bank of India Profitability:

- Net Interest Income (NII) for FY23 increased by 19.99% YoY at Rs. 1,44,841  crores and for Q4FY23 at Rs. 40,393 crores, up by 29.47% YoY
- Domestic NIM for FY23 increased by 22 bps YoY to 3.58%, while Domestic NIM for Q4FY23 increased by 44 bps YoY to 3.84%
- Operating Profit for FY23 grew by 11.18% YoY to Rs. 83,713 crores; while Operating Profit for Q4FY23 grew by 24.87% YoY to Rs. 24,621 crores
- Net Profit for FY23 crosses Rs. 50,000 crores and stands at Rs. 50,232 crores witnessing a growth of 58.58% YoY, while Net Profit for Q4FY23 grew by 83.18% to Rs. 16,695 crores

State Bank of India Loans and Deposits:

- Credit growth at 15.99% YoY with Domestic Advances growing by 15.38% YoY. 
- Foreign Offices’ Advances grew by 19.55% YoY. 
- Domestic Advances growth driven by Retail Personal Advances (17.64% YoY) followed by SME Advances which grew by 17.59% YoY. 
- Xpress Credit loans cross Rs. 3 lakh crores. 
- Agri and Corporate loans registered YoY growth of 13.31% and 12.52% respectively. 
- Whole Bank Deposits grew at 9.19% YoY, out of which CASA Deposit grew by 4.95% YoY. CASA ratio stands at 43.80% as on 31st March 23.

State Bank of India Asset Quality:

- Gross NPA ratio at 2.78% down by 119 bps YoY. 
- Net NPA ratio at 0.67% down by 35 bps YoY. 
- Provision Coverage Ratio (PCR) at 76.39% improved by 135 bps YoY, PCR (Incl. AUCA) improved by 171 bps YoY and stands at 91.91%. 
- The slippage Ratio for FY23 improved by 34 bps YoY and stands at 0.65%, while Slippage Ratio for Q4FY23 stands at 0.41%. 
- Credit Cost for FY23 improved by 23 bps YoY to 0.32%, while Credit Cost for Q4FY23 at 0.16% improved by 33 bps YoY.