Net Profit Jumps 41% to Rs 9,113 Crore in SBI's Q4; NII Up 15.3%; Dividend Declared

The largest public sector lender in the nation, State Bank of India (SBI), announced on Friday that its quarterly net profit increased by 41.2% to Rs 9,113.53 crore from Rs 6,450.75 crore in the same quarter last year. In comparison to the same time last year, its net interest income (NII) increased 15.26% to Rs 31,198 crore from Rs 27,067 crore.

The state-owned bank's profit increased eight percent every quarter from Rs. 8,432 crores in the December 2021 quarter. Sequentially, its NII climbed by 1.6% from the previous quarter's Rs 30,687 crore.

"The bank experienced an increase of 41.28 percent year-over-year in Q4FY22, recording its highest quarterly net profit of Rs 9,114 crore" (year-on-year). According to a release from the State Bank of India, net profit for FY22 increased by 55.19% year over year to Rs 31,676 crore.

The bank's operating profit for the three months ending in March 2022 was Rs 19,717 crore, and for the entire fiscal year, it increased by 5.22 percent to Rs 75,292 crore.

Additionally, an interim dividend of Rs 7.10 per equity share has been announced by the State Bank of India. The lender announced in a BSE filing on Friday that the central board of the bank had declared a dividend of Rs 7.10 per equity share for the fiscal year that ended on March 31, 2022.

It stated that the dividend payment date was set for June 10 and that the dividend warrants will be delivered ahead of time. The dividend was to be paid in India at par at all State Bank of India branches, regardless of the amount, it was stated.

According to SBI, its return on equity (RoE) at the end of FY22 was 13.92%, up 398 basis points (bps) from the previous year.

Every quarter, SBI observes an improvement in asset quality. In the three months ending in March 2022, the bank's gross non-performing assets ratio decreased from 4.5 to 3.97 percent. The GNPA ratio was 4.98 percent at the end of the March 2021 quarter.

The bank's net NPA ratio also decreased, from 1.34 percent a quarter earlier to 1.02 percent today. In the third quarter of March 2021, it was 1.5%. After the March 2022 quarter, its capital adequacy ratio (CAR) was 13.83 percent.

At the end of the March 2022 quarter, GNPAs totaled Rs. 1.12 lakh crore, down from Rs. 1.20 lakh crore and Rs. 1.26 lakh crore from the previous quarter and year, respectively. According to the BSE report, net NPAs were Rs 27,965.71 crore in the quarter under review, Rs 34,539.68 crore before, and Rs 36,809.72 crore a year earlier.

SBI reported a 55.2 percent increase to Rs 31,676 crore for the entire fiscal year in 2021–2022.

Its total bank advances increased 11% year over year in the three months ending in March 2022. Domestic advances increased by 10.27% year over year, mostly due to an increase in retail personal advances (15.11 percent year-on-year). Advances from the foreign office increased by 15.42 percent annually. According to the bank, its retail portfolio has surpassed Rs 10 lakh crore.

Overall deposits increased by 10.06% from the previous year. Savings bank deposits increased by 10.45% year over year, while term deposits increased by 11.545%, according to SBI. The CASA (current account-savings account) deposit increased 7.78% year over year as of March 31, 2022, with a CASA ratio of 45.28%.

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