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SBI Q4 net doubles to Rs 2815cr

20 May 2017

The company's market valuation rose by Rs 8,348.25 crore to Rs 2,49,905.25 crore.

Bank's Net lnterest lncome (NII) is Rs.501.94 crores in FY Q4-17 against Rs.405.45 crores in FY Q4-16.

The bank's provisions for bad loans and contingencies increased to Rs 6,209.58 crore during the March quarter from Rs 4,450.15 crore a year earlier.

State Bank of India (SBI), the nation's top lender by assets, reported a more than doubling of its fourth-quarter net profit as expected, while its bad loan ratio narrowed on a quarter-on-quarter basis.

Net Interest Margin (Domestic) declined by 0.16 per cent to 3.11 per cent as on March 2017 from 3.27 per cent at the end of previous fiscal. The Bank's Capital Adequacy Ratio was at 11.68% (as per Basel ll) as of March 31, 2017.

The State Bank of India has recorded a 122.72 per cent growth in fourth-quarter standalone net profit, aided by improving interest income and lower provisions.

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Analysts tracking the bank say while the asset quality for the bank at a standalone level was "satisfactory", this would not be said for its associate banks, which now stand merged with the bank. It would be looking at reducing exposure to the corporate sector from 65% of its total loan book at present to 50% for risk mitigation. Bhattacharya observed that while the Reserve Bank of India (RBI) had eased norms for decision-making at the Joint Lenders Forum (JLF), it was hard to say to what extent this would help. "But it may invoke PCA".

"We had a very hard but satisfying quarter".

Total income increased to Rs 57,720 crore for the quarter ended March 31, 2017 from Rs 53,526.97 crore for the same quarter year ago. The stock split from Rs 10 face value to Re 1 in November 2014. Bajaj Finance Q4 net up 43%.

Gross Non Performing Assets for SBI Group increased to 9.04% from 6.40% while net NPAs rose to 5.15% as against 3.73% at the end of March 2016.

The State-run banking behemoth posted a standalone net profit of ₹2,815 crore, a 123 per cent jump over last year' Q4 figures of ₹1,264 crore.

However, the non-Interest Income decreased marginally by 2.43%, from ₹10,585 crore in Q4FY16 to ₹10,327 crore in Q4FY17. While the bank's corporate loans have grown 3.59% y-o-y, its investment in corporate bonds have 45% y-o-y to Rs 59,636 crore and investment in commercial papers more than quadrupled on a y-o-y basis to Rs 58,651 crore. The bank's operating profit rose by 12.93 per cent, from Rs 14,192 crore to Rs 16,026 crore. He also said that the so-called special mention accounts-2 (those with dues overdue between 60-90 days) accounted for about Rs8,000 crore (Rs800 billion).

SBI Q4 net doubles to Rs 2815cr