State Bank of India has registered its highest quarterly Net Profit of Rs. 7,627 crores in Q2FY22. This represents an increase of 66.73% YoY. Their Operating Profit increased by 9.84% YoY to Rs. 18,079 crores in Q2FY22 from Rs.16,460 crores in Q2FY21. Net Interest Income for Q2FY22 increased by 10.65% YoY. The announcement came a day before Diwali via a press conference Domestic NIM for Q2FY22 at 3.50%, has increased by 16 bps YoY.
Whole Bank Advances grew by 6.17% YoY, mainly driven by Personal Retail Advances (15.17% YoY) and Foreign Office Advances (16.18% YoY). Home loan, which constitutes 24% of the Bank’s domestic advances, has grown by 10.74% YoY. · Including the growth in Corporate Bonds / CPs, the loan book has grown by 6.21% YoY. Net NPA ratio at 1.52% is down 7 bps YoY. Gross NPA ratio at 4.90% is down 38 bps YoY.
|In Rs Crores||Q2FY21||Q1FY22||Q2FY22||YoY %||QoQ %||H1FY21||H1FY22||YoY %|
|Profit & Loss|
|Net Interest Income||28,181||27,638||31,184||10.65||12.83||54,823||58,822||7.29|
|NIM, % (Domestic)||3.34||3.15||3.50||16 bps||35 bps||3.29||3.33||4 bps|
|Loan loss provisions||5,619||5,030||2,699||-51.96||-46.33||15,040||7,729||-48.61|
|Profit after tax||4,574||6,504||7,627||66.73||17.26||8,763||14,131||61.24|
|Ratios, %||Q2FY21||Q1FY22||Q2FY22||YoY, bps||QoQ, bps||H1FY21||H1FY22||YoY, bps|
|PCR (with AUCA)||88.19||85.93||87.68||-51||175||88.19||87.68||-51|
|PCR (without AUCA)||71.04||67.86||70.05||-99||219||71.04||70.05||-99|