May 28, 2024

SBI Q3 FY23 Results

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Highlights

Profitability

  • Highest ever-quarterly Net Profit at Rs. 14,205 crores; grew by 68.47%
  • Operating Profit for Q3FY23 at Rs. 25,219 crores; grew by 16% YoY.
  • ROA at 08% for the quarter improved by 37 bps YoY.
  • Bank’s ROA and ROE for the nine months stand at 87% and 18.59% respectively.
  • Net Interest Income (NII) for Q3FY23 increased by 05% YoY.
  • Domestic NIM for Q3FY23 increased by 29 bps YoY to 69%.

Balance Sheet

  • Credit growth at 60% YoY with Domestic Advances growing by 16.91% YoY.
  • Foreign Offices’ Advances grew by 47% YoY.
  • Domestic Advances growth driven by Retail Personal Advances (18.10% YoY) followed by Corporate Advances which grew by 08% YoY.
  • Retail Personal Advances (excl. REH) cross 5 lakh crores.
  • SME and Agri loans have registered YoY growth of 16% and 11.52% respectively.
  • Whole Bank Deposits grew at 51% YoY, out of which CASA Deposit grew by 5.88% YoY. CASA ratio stands at 44.48% as on 31st December 22.

Asset Quality

  • Net NPA ratio at 77% down by 57 bps YoY.
  • Gross NPA ratio at 14% down by 136 bps YoY.
  • Provision Coverage Ratio (PCR) at 12% improved by 490 bps YoY, PCR (Incl. AUCA) stands at 91.52%.
  • Slippage Ratio for Q3FY23 stands at 41%
  • Credit Cost for Q3FY23 at 21%; improved by 28 bps YoY.

Capital Adequacy

  • Capital Adequacy Ratio (CAR) as at the end of Q3FY23 stands at 27%.

Alternate Channels

  • 64% of SB accounts and 41% of retail asset accounts acquired digitally through
  • Share of Alternate Channels in total transactions increased from 3% in 9MFY22 to 97.2% in 9MFY23.

Key Summary of Q3FY23 Results

In Rs Crores Q3FY22 Q2FY23 Q3FY23 YoY % QoQ % 9MFY22 9MFY23 YoY %
Profit & Loss
Interest Income 69,678 79,860 86,616 24.31 8.46 2,04,724 2,39,152 16.82
Interest Expenses 38,991 44,676 48,547 24.51 8.67 1,15,214 1,34,704 16.92
Net Interest Income 30,687 35,183 38,069 24.05 8.20 89,510 1,04,448 16.69
NIM, % (Domestic) 3.40 3.55 3.69 29 bps 14 bps 3.35 3.49 14 bps
Operating Profit 18,522 21,120 25,219 36.16 19.41 55,576 59,092 6.33
Loan loss provisions 3,096 2,011 1,586 -48.76 -21.11 10,825 7,865 -27.34
Profit after tax 8,432 13,265 14,205 68.47 7.09 22,562 33,538 48.64

 

In Rs Crores Dec 21 Sep 22 Dec 22 YoY % QoQ %
Balance Sheet
Gross advances 26,64,602 30,35,071 31,33,565 17.60 3.25
Domestic Corporate 7,83,379 9,17,016 9,25,038 18.08 0.87
Domestic Retail Personal 9,52,189 10,74,853 11,24,519 18.10 4.62
Of which: Home loans 5,38,475 5,94,292 6,13,196 13.88 3.18
Deposits 38,47,794 41,90,255 42,13,557 9.51 0.56
Domestic CASA 17,00,688 17,97,752 18,00,677 5.88 0.16
Domestic Term Deposits 20,17,823 22,30,260 22,47,472 11.38 0.77
CASA Ratio (%) 45.74 44.63 44.48 -126 bps -15 bps
GNPA 1,20,029 1,06,804 98,347 -18.06 -7.92
NNPA 34,540 23,572 23,484 -32.01 -0.37

 

 

Ratios, %

 

Q3FY22

 

Q2FY23

 

Q3FY23

YoY,

bps

QoQ,

bps

 

9MFY22

 

9MFY23

YoY,

bps

Asset Quality
GNPA 4.50 3.52 3.14 -136 -38 4.50 3.14 -136
NNPA 1.34 0.80 0.77 -57 -3 1.34 0.77 -57
PCR (with AUCA) 88.32 91.54 91.52 320 -2 88.32 91.52 320
PCR (without AUCA) 71.22 77.93 76.12 490 -181 71.22 76.12 490
Slippage Ratio 0.37 0.33 0.41 4 8 1.16 0.72 -44
Credit Cost 0.49 0.28 0.21 -28 -7 0.57 0.37 -20
Capital Ratios
CET-1 ratio 9.38 9.53 9.26 -12 -27 9.38 9.26 -12
Tier-1 ratio 10.91 11.12 10.80 -11 -32 10.91 10.80 -11
CAR 13.23 13.51 13.27 4 -24 13.23 13.27 4