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SBI announces good numbers

Thursday, May 17, 2007

SBI is planning to raise Rs 14,000 Cr - 15000 Cr in capital to fund growth. The bank is likely to tap debt & equity route, equity route post amendment of SBI Act.

SBI (State Bank of India) has announced its Q4FY07 and annual results. Its Q4 net profit was up 75% at Rs 1493.2 crore (Rs 14.93 billion) versus Rs 853.3 crore (Rs 8.53 billion) in Q4 of last fiscal. The banks FY07 net profit stood at Rs 4541.3 crore (Rs 45.41 billion) versus Rs 4406 crore (Rs 44.06 billion) in FY06, up 3%.

Q4 NII of the bank was up 21.5% at Rs 4320.1 crore versus Rs 3554.6 crore, YoY. Its FY07 NII was up 2.7% at Rs 16054 crore versus Rs 15635.6 crore, YoY.

The Q4 provisions of the bank was up 5.5% at Rs 1412 crore versus Rs 1339 crore, YoY. Other income in Q4 was up 8.1% at Rs 2894.3 crore versus Rs 2677 crore.

Result Review:

To raise Rs 14,000 cr - 15000 cr in capital to fund growth; likely to tap debt & equity route; Equity route post amendment of SBI Act.
Interest on Balances grew from Rs 281.25 cr to Rs 1627.03 cr (Interest on CRR)
Non Interest Income grows by 31.57%
Advances to retail segment in FY 07 grew at 20.53%
Home loans account for 51% of the total retail advances
Share of Non-Interest Income to Operating Income increases from 21.95% in 06 to 26.44% in 07.
NIM expanded marginally to 3.31% on a QoQ basis; expected to be under pressure in FY08
Return on Assets has decreased to 0.84% from 0.89%
Return on Equity has also declined to 14.24% from15.47%
Cost of Deposits has increased to 4.79% from 4.57%
Yield on Advances has increased to 8.67% from 7.78%
Yield on Investments decreased to 6.88% from 7.10%
In FY 07 NIM of the Bank increased to 3.31% from 2.92%
Non Interest Income to Operating Income increased to 26.44% from 21.95%
Cost to Income Ratio has decreased to 54.18% from 58.70%
Gross & Net NPA decreases from 3.61% to 2.92% and 1.88% to 1.56%
Deposits frew to Rs 55475 crores in deposits, interest expenses on deposits grew marginally from Rs 18132 cr to Rs 19084 cr, a growth of 5.25% largely due to a healthy CASA ratio of 43.57%

Posted by FR at 4:41 PM  

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Investment in equity shares has its own risks. Sincere efforts have been made to present the right investment perspective.The information contained herein is based on analysis and up on sources that we consider reliable. I, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and I am not responsible for any loss incurred based upon it.& take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations given in this blog.