State Bank Of India (SBI) Q1FY23 Result: PAT fall 24.6% to ₹7,528 Cr QOQ, Gross NPA at 3.91% down by 141 bps and NII up 12.8% YoY

The MTM hit also had an adverse impact on bank’s ROA and ROE, which stand at 0.48% and 10.09% respectively. • Excluding Trading Income and MTM, Core Operating Profit increased by 14.39% YoY, from Rs. 16,873 crores in Q1FY22 to Rs. 19,302 crores in Q1FY23. • Net Interest Income (NII) for Q1FY23 increased by 12.87% YoY. • Domestic NIM for Q1FY23 increased by 8 bps YoY to 3.23%

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State Bank of India (SBI) a Fortune 500 company, is an Indian Multinational, Public Sector Banking and Financial services statutory body headquartered in Mumbai.

SBI has posted its Q1FY23 financial results today, the details are as below :

(I) Unaudited Consolidated Financial Results for Quarter Ended (QOQ comparison):

SBI Q1 results 2022 reported, a consolidated Total Income of ₹94,524.30 crore in the quarter ended on June 30, 2022 as against ₹1,08,034.68 crore in the last quarter ended on Mar 31, 2022, decreased by 12.50%.

The Bank has posted a consolidated Net Profit of ₹7,528.25 crore in the quarter ended on March 31, 2022 as against ₹9,993.76 crore in the previous quarter ended on June 30, 2022. The PAT surges down by 24.67%.

The status of the EPS of the Bank stood at ₹8.21 as on March 31, 2022 compared to the previous quarter ended on June, 2022 which was ₹10.70, down by 23.27%.

₹*June 30, 2022 (Q1FY23)Mar 31, 2022 (Q4FY22)
Total Income94,524.301,08,034.68
Total Expenses79,496.7186,067.81
PBT /(Loss)10,265.1113,857.69
Total Tax /(credit)2736.863863.69
PAT /(Loss) [to the owners]7,528.259,993.76
*figures are in Crores

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(II) Unaudited Consolidated Financial Results for Quarter Ended (YoY comparison):

The Bank has reported, a consolidated Total Income of ₹94,524.30 crore in the financial year ended on June 30, 2022 as against ₹93,266.94 crore for the same quarter ended on last year June 30, 2021 that increased by 1.34%.

Q1 results 2022 of State Bank Of India shows a consolidated Net Profit of ₹7,528.25 crore in the financial year ended on June 30, 2022 as against ₹7,539.22 crore for the same quarter ended on last year June 30, 2021. The PAT surges down by 0.14%.

The status of the EPS of the Bank stood at ₹8.21 as on June 30, 2022 compared to the quarter ended on last year June 30, 2021 which was ₹8.27, down by 0.72%.

₹*June 30, 2022 (Q1FY23)June 30, 2021 (Q1FY22)
Total Income94,524.3093,266.94
Total Expenses79496.7172436.68
PBT /(Loss)10265.1110320.02
Total Tax /(credit)2736.862780.02
PAT /(Loss) [to the owners]7,528.257,539.22
*figures are in Crores
sbi regional office Kolkata

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(III) Key Highlights about the Performance :

• Operating Profit for Q1FY23 at Rs. 12,753 crores as against Rs. 18,975 crores in Q1FY22, impacted by MTM Losses on investment book.
• The MTM hit also had an adverse impact on bank’s ROA and ROE, which stand at 0.48% and 10.09% respectively.
• Excluding Trading Income and MTM, Core Operating Profit increased by 14.39% YoY, from Rs. 16,873 crores in Q1FY22 to Rs. 19,302 crores in Q1FY23.
• Net Interest Income (NII) for Q1FY23 increased by 12.87% YoY.
• Domestic NIM for Q1FY23 increased by 8 bps YoY to 3.23%

State Bank of India Q1FY23 results summery – Market Times

Balance Sheet
• Bank’s Balance Sheet size crosses Rs. 50 lakh crores.
• Credit growth at 14.93% YoY. Domestic Advances grew at 13.66% YoY and Foreign Offices’ Advances grew by 22.39% YoY.
• Domestic Advances growth driven by Retail Personal Advances (18.58% YoY), out of which Home Loan grew by 13.77% YoY.
• Corporate Loan book grew by 10.57%; SME and Agri loans have also registered YoY growth of 10.01% and 9.82% respectively.
• Whole Bank Deposits grew at 8.73% YoY, out of which CASA Deposit grew by 6.54% YoY. CASA ratio stands at 45.33% as on 30th June 22.

SBI net interest income – Q1 Results 2022

• 65% of SB accounts and 38% of retail asset accounts acquired digitally through YONO.
• Share of Alternate Channels in total transactions increased from 95.1% in Q1FY22 to 96.6% in Q1FY23.

(IV) Asset Quality and CAR :

Q1FY23Q4FY22Q1FY22
Gross NPA ₹*1,13,271.721,12,023.371,34,259.48
Gross NPA %3.913.975.32
Net NPA ₹*28,257.9227,965.7143,152.52
Net NPA %1.001.021.77
**CAR %13.4313.8613.66
RoA %0.480.740.57
*₹ are in Crores **Capital Adequacy Ratio

• Gross NPA ratio down by 141 bps YoY at 3.91%, while Net NPA ratio down by 77 bps YoY at 1.00%.
• Provision Coverage Ratio (PCR) improved by 719 bps YoY at 75.05%. PCR (Incl. AUCA) stands at 90.14%.
• Slippage Ratio for Q1FY23 stands at 1.38%; improved by 109 bps YoY.
• Credit Cost for Q1FY23 stands at 0.61%; improved by 18 bps YoY.

Capital Adequacy Ratio (CAR) as at the end of Q1FY23 stands at 13.43%

State Bank of India Asset Quality – Q1FY23 results

The stocks of State Bank India last hit in BSE,

  • Intraday High of ₹ 542.75
  • Intraday low of ₹ 529.00
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