State Bank of India reports Net Profit of Rs. 6,451 Crores in Q4FY21
Kolkata: State Bank on Friday reported a Net Profit of Rs. 6,451Crores in Q4FY21 as compared to Rs.3,581 Crores in Q4FY20, an increase of 80.15% year on year.
Sequentially Net Profit has increased by 24.14%.
The Bank registered an Operating Profit of Rs. 19,700Crores in Q4FY21 as compared to Rs.18,465 Crores in Q4FY20, an increase of 6.69% year on year. Sequentially Operating Profit has increased by13.66%.
Net Profit for FY21 at Rs. 20,410 crores has increased by 40.88% YoY as against
Rs. 14,488 crores in FY20.
Net Interest Income for Q4FY21 increased by 18.89% YoY.
Domestic NIM for FY21 at 3.26%, has improved by 7 bps YoY.
Non-Interest Income for Q4FY21 at Rs.16,225 Crores grew by 75.48% sequentially and 0.92% YoY.
Total Deposits grew at 13.56% YoY, out of which Current Account Deposit grewby27.36% YoY, while Saving Bank Deposits grew by 14.79% YoY.
Domestic Credit Growth stood at 5.67% YoY, mainly driven by Retail(Personal) Advances (16.47% YoY), SME (4.24% YoY) and Agri Advances (3.92% YoY).
Including the YoY growth in Corporate Bonds / CPs of Rs. 51,811 crores, the loan book has grown by 6.53% YoY.
Home loan, which constitutes 23% of Bank’s domestic advances, has grown by 10.51% YoY.
Net NPA ratio at 1.50% isdown 73 bps YoY.Gross NPAratioat 4.98%is down 117 bps YoY.
Provision Coverage Ratio(PCR) has improved to 87.75%, up 413 bps YoY.
Slippages Ratio for FY21 has declined to 1.18% from 2.16% as at the end of FY20.
Credit Cost as at the end of FY21has declined 75 bps YoY to 1.12%.
Cost to Income Ratiohas marginally increased from 52.46% in FY20 to 53.60% in FY21.
Capital Adequacy Ratio (CAR)has improved by 68 bps YoY to 13.74% as on Mar 2021.
Return on Assets(RoA) increased by 10 bps YoY to 0.48% in FY21 against 0.38% in FY20.
Share of Alternate Channels in total transactionshas increased from 91% in FY20 to 93% in FY21.