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 | |||||||||
| Interest Income | 66,814 | 65,564 | 69,481 | 3.99 | 5.97 | 1,33,314 | 1,35,046 | 1.30 | |
| Interest Expenses | 38,633 | 37,926 | 38,298 | -0.87 | 0.98 | 78,491 | 76,224 | -2.89 | |
| 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 | |
| Operating Profit | 16,460 | 18,975 | 18,079 | 9.84 | -4.72 | 34,521 | 37,054 | 7.34 | |
| Loan loss provisions | 5,619 | 5,030 | 2,699 | -51.96 | -46.33 | 15,040 | 7,729 | -48.61 | |
| Exceptional Items* | 7,418 | 7,418 | |||||||
| 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 |
| Asset Quality | ||||||||
| GNPA | 5.28 | 5.32 | 4.90 | -38 | -42 | 5.28 | 4.90 | -38 |
| NNPA | 1.59 | 1.77 | 1.52 | -7 | -25 | 1.59 | 1.52 | -7 |
| 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 |
| Slippage Ratio | 0.46 | 2.47 | 0.66 | 20 | -181 | 0.53 | 1.56 | 103 |
| Credit Cost | 0.94 | 0.79 | 0.43 | -51 | -36 | 1.24 | 0.61 | -63 |
| Capital Ratios | ||||||||
| CET-1 ratio | 10.49 | 9.91 | 9.76 | -73 | -15 | 10.49 | 9.76 | -73 |
| Tier-1 ratio | 11.90 | 11.32 | 11.02 | -88 | -30 | 11.90 | 11.02 | -88 |
| CAR | 14.72 | 13.66 | 13.35# | -137 | -31 | 14.72 | 13.35# | -137 |