SBI reports Net Profit of Rs. 6,451Crores 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.

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