May 29, 2024

SBI Q2 FY23 Results

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Q2FY23 RESULTS

Highlights

Profitability

·      Highest ever quarterly Net Profit at Rs. 13,265 crores; grew by 73.93% YoY.

·      Operating Profit for Q2FY23 at Rs. 21,120 crores; grew by 16.82% YoY.

·      ROA at 1.04% for the quarter improved by 38 bps YoY.

·       Bank’s ROA and ROE for the half year stand at 0.76% and 16.08% respectively.

·      Net Interest Income (NII) for Q2FY23 increased by 12.83% YoY.

·      Domestic NIM for Q2FY23 increased by 5 bps YoY to 3.55%.

 

Balance Sheet

·      Credit growth at 19.93% YoY with Domestic Advances growing by 18.15% YoY.

·      Foreign Offices’ Advances grew by 30.14% YoY.

·      Domestic Advances growth driven by Corporate Advances (21.18% YoY) followed by Retail Personal Advances which grew by 18.84% YoY.

·      REH Advances cross Rs. 6 lakh crores.

·      SME and Agri loans have registered YoY growth of 13.24% and 11.00% respectively.

·      Whole Bank Deposits grew at 9.99% YoY, out of which CASA Deposit grew by 5.35% YoY. CASA ratio stands at 44.63% as on 30th September 22.

Asset Quality

·      Net NPA ratio falls below 1%, stands at 0.80% down by 72 bps YoY.

·      Gross NPA ratio at 3.52% down by 138 bps YoY.

·      Provision Coverage Ratio (PCR) at 77.93% improved by 788 bps YoY, PCR (Incl. AUCA) stands at 91.54%.

·      Slippage Ratio for Q2FY23 at 0.33% improved by 33 bps YoY.

·      Credit Cost for Q2FY23 at 0.28%; improved by 15 bps YoY.

 

Capital Adequacy

·      Capital Adequacy Ratio (CAR) as at the end of Q2FY23 stands at 13.51%.

 

Alternate Channels

·      62% of SB accounts and 45% of retail asset accounts acquired digitally through YONO.

·      Share of Alternate Channels in total transactions increased from 95.1% in H1FY22 to 96.8% in H1FY23.

 

 

Key Summary of Q2FY23 Results

 

In Rs Crores Q2FY22 Q1FY23 Q2FY23 YoY % QoQ % H1FY22 H1FY23 YoY %
Profit & Loss
Interest Income 69,481 72,676 79,860 14.94 9.88 1,35,046 1,52,536 12.95
Interest Expenses 38,298 41,480 44,676 16.66 7.70 76,224 86,157 13.03
Net Interest Income 31,184 31,196 35,183 12.83 12.78 58,822 66,379 12.85
NIM, % (Domestic) 3.50 3.23 3.55 5 bps 32 bps 3.33 3.39 6 bps
Operating Profit 18,079 12,753 21,120 16.82 65.61 37,054 33,873 -8.59
Loan loss provisions 2,699 4,268 2,011 -25.50 -52.89 7,729 6,279 -18.76
Profit after tax 7,627 6,068 13,265 73.93 118.59 14,131 19,333 36.81

 

In Rs Crores Sep 21 Jun 22 Sep 22 YoY % QoQ %
Balance Sheet
Gross advances 25,30,777 29,00,636 30,35,071 19.93 4.63
  Domestic Corporate 7,56,764 8,74,014 9,17,016 21.18 4.92
     Domestic Retail Personal 9,04,473 10,34,111 10,74,853 18.84 3.94
    Of which: Home loans 5,18,703 5,75,075 5,94,292 14.57 3.34
Deposits 38,09,630 40,45,696 41,90,255 9.99 3.57
  Domestic CASA 17,06,387 17,67,666 17,97,752 5.35 1.70
  Domestic Term Deposits 19,83,642 21,32,185 22,30,260 12.43 4.60
CASA Ratio (%) 46.24 45.33 44.63 -161 bps -70 bps
GNPA 1,23,942 1,13,272 1,06,804 -13.83 -5.71
NNPA 37,119 28,258 23,572 -36.49 -16.58

 

Ratios, % Q2FY22 Q1FY23 Q2FY23 YoY, bps QoQ, bps H1FY22 H1FY23 YoY, bps
Asset Quality
GNPA 4.90 3.91 3.52 -138 -39 4.90 3.52 -138
NNPA 1.52 1.00 0.80 -72 -20 1.52 0.80 -72
PCR (with AUCA) 87.68 90.14 91.54 386 140 87.68 91.54 386
PCR (without AUCA) 70.05 75.05 77.93 788 288 70.05 77.93 788
Slippage Ratio 0.66 1.38 0.33 -33 -105 1.56 0.86 -70
Credit Cost 0.43 0.61 0.28 -15 -33 0.61 0.45 -16
Capital Ratios
CET-1 ratio 9.76 9.72 9.53 -23 -19 9.76 9.53 -23
Tier-1 ratio 11.02 11.15 11.12 10 -3 11.02 11.12 10
CAR 13.35 13.43 13.51 16 8 13.35 13.51 16