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SBI Q1 profit up by 10%

sbiState Bank of India said its Net Profit increased by 10.25% from Rs 3,349 crores in last year to Rs 3,692 crores in the first quarter.

SBI’s operating profit increased by 4.72% from Rs 8,788 crores in the same quarter last year to Rs 9,202 crores in the first quarter.

Fee income increased by 12.86% from Rs 2,837 crores in last year to Rs 3,202 crores in the first quarter.

Overall non-Interest Income increased by 19.66% from Rs 4,252 crores in last year to Rs 5,088 crores in the first quarter.

Gross NPA Ratio is down by 61 bps from 4.90% in last year to 4.29% in the first quarter, the bank said. Net NPA Ratio at India’s largest bank was down by 42 bps from 2.66% in last year to 2.24%.

Domestic net interest margin – the gap between what it lends at and what is gives out on deposits, declined from 3.54% in last year to 3.29% in the first quarter due to reduction in base rate by 30 bps and also because of subdued growth of 5.38% in advances, the bank said.

Deposits of the Bank increased 13.72% from Rs 14,18,915 crores in Jun 14 to Rs 16,13,545 crores in Jun 15.

Savings Bank Deposits were up 10.14% year on year from Rs 4,89,422 crores in Jun 14 to Rs 5,39,050 crores.

Current Account Deposits increased from Rs 89,710 crores in Jun 14 to Rs 96,845 crores in Jun 15, showing a 7.95% YOY growth.

Gross Advances increased from Rs 12,32,288 crores in Jun 14 to Rs 13,13,735 crores in Jun 15, demonstrating a 6.61% YOY growth.

Large Corporate Advances were up 13.13% from Rs 2,26,261 crores to Rs 2,55,964 crores.

Retail Advances increased from Rs 2,42,480 crores in Jun 14 to Rs 2,80,114 crores in Jun 15, up 15.52% YOY.

Home loans increased 13.50% from to Rs 1,63,678 crores in Jun 15.

 

 

Q1FY15

Q1FY16

Growth (%)

Interest on Advances

27560

28582

3.71

Interest on Resources Operations

8266

10254

24.04

Others Sundry Interest

661

808

22.14

Total Interest Income

36487

39643

8.65

Interest Expenses

23235

25911

11.52

Net Interest Income

13252

13732

3.62

Non-Interest Income

4252

5088

19.66

Operating Income

17504

18820

7.52

Staff Expenses

5565

5906

6.14

Overhead Expenses

3152

3712

17.75

Operating Expenses

8717

9618

10.34

Operating Profit

8788

9202

4.72

Total Provisions

5439

5510

1.31

Net Profit

3349

3692

10.25

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