SBI Q4 FY21 net profit up 80.15% at Rs6,451 cr
25 May 2021
State Bank of India (SBI), the country’s largest lender, has reported a net profit of Rs6,451 crore for fiscal fourth quarter ended 31 March 202 against a net profit of Rs3,581 crore in Q4 of the previous financial year, an increase of 80.15 per cent year-on-year. Sequentially net profit has increased by 24.14 per cent.
SBI’s operating profit for the January-March 2020-21 quarter stood at Rs19,700 crore compared to Rs18,465 crores in Q4FY20, an increase of 6.69 per cent year on year. Sequentially, operating profit was higher by 13.66 per cent.
Net interest income for Q4FY21 increased by 18.89 per cent year-on-year while domestic net interest margin (NIM), at 3.26 per cent, improved by 7 bps YoY.
Non-interest income for Q4FY21 at Rs16,225 crore grew 0.92 per cent YoY and 75.48 per cent sequentially.
Total deposits with the bank grew 13.56 per cent YoY, out of which current account deposit grew 27.36 per cent YoY and savings deposits grew 14.79 per cent YoY.
Domestic credit grew 5.67 per cent YoY, mainly driven by retail (personal) advances (16.47 per cent), SME (4.24 per cent) and agri loans (3.92 per cent).
Including the YoY growth in corporate bonds / CPs of Rs51,811 crore, the loan book has grown by 6.53 per cent YoY.
Home loan, which constitutes 23 per cent of the bank’s domestic advances, grew 10.51 per cent YoY.
Net NPA ratio at 1.50 per cent is down 73 bps YoY while gross NPA ratio at 4.98 per cent is down 117 bps YoY.
Provision Coverage Ratio (PCR) has improved to 87.75 per cent, up 413 bps YoY.
Slippages Ratio for FY21 has declined to 1.18 per cent from 2.16 per cent as at the end of FY20.
Credit Cost as at the end of FY21 has declined 75 bps YoY to 1.12 per cent.
Cost to Income Ratio has marginally increased from 52.46 per cent in FY20 to 53.60 per cent in FY21.
SBI’s Capital Adequacy Ratio (CAR) has improved by 68 bps YoY to 13.74 per cent as on March 2021.
Return on Assets (RoA) increased by 10 bps YoY to 0.48 per cent in FY21 against 0.38 per cent in FY20.
Share of alternate channels in total transactions has increased from 91 per cent in FY20 to 93 per cent in FY21.
SBI’s net profit for the full fiscal (April-March 2020-21) increased by 40.88 per cent to Rs20,410 crore from Rs14,488 crore in FY20.