State Bank of India (SBI) has recorded its highest quarterly net profit of Rs 7,627 crores in Quarter 2 of the Financial Year 2021-22, which represents a year-on-year (YoY) increase of 66.73 per cent, as per the bank.
The operating profit registered a 9.84 per cent YoY increase as it increased from Rs 16,460crores in Q2, FY 2020-21 to Rs 18,079 crores in Q2, FY 2021-22, read a press statement from SBI.
"Fully provided Rs 7,418 crores due to change in family pension rules, even as regulator granted dispensation to amortise in 5 years," added the statement.
The Net Interest Income for Q2, FY 2021-22 increased by 10.65 per cent on YoY basis, with Rs 31,184 crores Net Interest Income registered in Q2. While the Domestic NIM for Q2, FY 2021-22 is at 3.50 per cent, up by 16 bps YoY from 3.34 per cent in the Q2, FY 2020-21.
The Total Deposits grew at 9.77 per cent on YoY basis. The Current Account Deposits registered a 19.20 per cent YoY growth while the Saving Bank Deposits grew by 10.55 per cent YoY.
The Whole Bank Advances grew by 6.17 per cent YoY, mainly driven by Personal Retail Advances (15.17 per cent YoY growth) and Foreign Office Advances (16.18 per cent YoY growth). The Domestic Advances Growth stood at 4.61 per cent on YoY basis.
Home loans, which constitutes 24 per cent of the bank's domestic advances, have grown by 10.74 per cent on a YoY basis. Including the growth in Corporate Bonds / CPs, the loan book has grown by 6.21 per cent on a YoY basis.
The Net NPA ratio is at 1.52 per cent, down by 7 bps on a YoY basis. The Gross NPA ratio is at 4.90 per cent, down by 38 bps on a YoY basis.
The Provision Coverage Ratio (PCR) is at 87.68 per cent, down from 88.19 per cent in Q2, FY 2020-21.
The Slippage Ratio for Q2, FY 2021-22 stands at 0.66 per cent only, down from 2.47 per cent in the Q1, FY 2021-22.
The Credit Cost for Q2, FY 2021-22 has declined by 51 bps on a YoY basis from 0.94 in Q2, FY 2020-21 to 0.43 per cent in Q2, FY 2021-22.
The Cost to Income Ratio is at 54.10 per cent during Q2FY22, lower by 106 bps on YoY basis.
"The Capital Adequacy Ratio (CAR) as at the end of Q2, FY 2021-22 stands at 13.35 per cent even without including H1FY22 Profit. If we add profit of H1FY22, the ratio will improve by 61 bps," the statement further read.
The Return on Assets (RoA) as at the end of Q2, FY 2021-22 stands at 0.61 per cent, which is higher by 18 bps on YoY basis. While the Return on Equity (RoE) as at the end of Q2, FY 2021-22 stands at 13.17 per cent, which is higher by 423 bps YoY.
The share of Alternate Channels in total transactions has increased from 93 per cent in H1FY21 to 95 per cent in H1FY22.