State Bank of India achieves 18% growth in Fiscal year 2012?
State Bank of India is largest lender in Loans Industry. In last quarter SBI net profit rises up to 12.36%. It shocked all the industry when SBI posted these results online. On 9th to 11th of November 2011, SBI Pradip Chawdhari held a meet.
Banking Performance sheet of State Bank of India:-
- Business has improved 15% to Rs. 1763772 crore in the quarter ended September 11.
- Deposits grew 14% to Rs. 973171 crore at end of September 11.
- Saving Bank Deposit Rates not increased up to the mark. Management is not looking forward
- Gross Advances inched up 17% to Rs. 810612 crore at end of September 11.
- International advances grew 19% to Rs. 125364 crore at end of September 11.
- Large Corporate Advances up 21%, Mid Corporate up 13%, SME up 21% and retail up by 13 and SBI home loan grew 16.5%, SBI car loan by 25%, SBI Education loan by 15 % and SBI personal loan by flat at 42213 crore.
- Going forward management expects credit growth of 16-18% for FY12
- Advances to Infrastructure grew 26.3% to Rs. 73796 crore of which power advances grew 39% to Rs. 34367 crore and advances to Roads & ports grew 50% to Rs. 14293 crore. Infrastructure book constituted 9.10% of total book against 8.43% in the corresponding previous year.
- CD ratio is higher at 75.81% at end of September 11 from 74.7% a year ago an increase of 111 bps
- Market share of the bank has declined in advances front from 17.02% at end of September 10 to 16.44% in quarter under review. Market share in deposits stood at 16.26% from 16.56% a year ago.
- Iron & Steel advances have also improved 35% to Rs. 39310 crore, petroleum advances by 15% to Rs. 20144 crore and textiles credit by 23% to Rs. 33892 crore
- Fee income slipped 12% to Rs. 2945 crore in the quarter under review. Huge loss on domestic bonds at Rs. 173 crore against loss of Rs. 22 crore in the corresponding previous year and 7% dip in the domestic equity and MF at Rs. 184 crore has pulled down profit on sale of investment at Rs. 28 crore.
- Break up of NPA’s in different sectors is as follows: Corporate Rs. 12264 crore, SME Rs. 7539 crore, International Rs. 2441 crore, Agri Rs. 6832 crore and Retail Rs. 4870 crore.
- Sector wise beak up of NPA is as follows. NPA% in agri has increased to 8.92% from 6.37% a year ago, Corporate increased to 4.25% from 3.16% a year ago, SME inched up to 4.99% from 3.66% a year ago.
- Total restructured assets at end of September 11 stood at Rs. 35422 crore at end of September 11. Of this, Rs. 7751 crore slipped in to NPA’s taking slippage ratio to 21.88% in restructured book.
- ROA stood at 0.69% at end of September 11 against 0.97% a year ago and 0.50% a quarter ago. ROE increased to 16.73% against 14.76% in the corresponding previous year.
- Book value per share stood at Rs. 1083 at end of September 11 against Rs. 1114 in the corresponding previous year.
- Effective tax rate for FY12 to be around 36-37%.
Non Banking Performance Sheet of State Bank of India:-
- SBI life has reported PAT of Rs. 200 crore a decline of 8% while the renewal premium has reported a strong growth of 55% to Rs. 2593 crore. AUM of SBL Life stood at Rs. 40271 crore at end of September 11.
- SBI card and payment services has reported robust growth of 144% to Rs. 18.54 crore in the quarter ended September 11.
- SBI Funds Management Pvt Ltd has reported 7% dip in the PAT at Rs. 36.25 crore. Average AUM has increased 14% to Rs. 6059 crore.
- SBI pension fund has highest share of AUM in organized sector of 41.36% and under informal sector 51.19%. AUM stood at Rs. 4646.31 crore at end of September 11.
- SBI Capital markets have also reported PAT of Rs. 122.72 crore in the quarter under review. SBI DFHL has PAT at Rs. 17.52 crore in the quarter under review.
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