Kolkata: State Bank on Friday reported a net profit of Rs. 6,451 crore in Q4FY21 as compared to Rs.3,581 crore in Q4FY20, an increase of 80.15% year on year. Sequentially Net Profit has increased by 24.14%.
The Bank registered an operating profit of Rs. 19,700 crore in Q4FY21 as compared to Rs.18,465 crore in Q4FY20, an increase of 6.69% year on year. Sequentially operating profit has increased by 13.66%.
Net profit for FY21 at Rs. 20,410 crore has increased by 40.88 % YoY as against Rs. 14,488 crore in FY20.
Net Interest Income for Q4FY21 increased by 18.89 % YoY.
Domestic NIM for FY21 at 3.26%, has improved by 7 bps YoY.
Non-Interest Income for Q4FY21 at Rs. 16,225 crore grew by 75.48 % sequentially and 0.92 % YoY.
Total deposits grew at 13.56 % YoY, out of which current account deposit grew by 27.36 % YoY, while saving bank deposits grew by 14.79 % YoY.
Domestic Credit Growth stood at 5.67 % YoY, mainly driven by retail (personal) advances (16.47 % YoY), SME (4.24% YoY) and Agri Advances (3.92% YoY).
Including the YoY growth in Corporate Bonds / CPs of Rs. 51,811 crore, the loan book has grown by 6.53% YoY.
Home loan, which constitutes 23% of Bank’s domestic advances, has grown by 10.51% YoY. Net NPA ratio at 1.50 % is down 73 bps YoY. Gross NPA ratio at 4.98%is down 117 bps YoY. Provision Coverage Ratio (PCR) has improved to 87.75%, up 413 bps YoY.
Slippages Ratio for FY21 has declined to 1.18% from 2.16% as at the end of FY20. Credit Cost as at the end of FY21has declined 75 bps YoY to 1.12%. Cost to Income Ratio has marginally increased from 52.46% in FY20 to 53.60% in FY21. Capital Adequacy Ratio (CAR) has improved by 68 bps YoY to 13.74% as on Mar 2021. Return on Assets (RoA) increased by 10 bps YoY to 0.48% in FY21 against 0.38% in FY20.
Share of Alternate Channels in total transactions has increased from 91% in FY20 to 93% in FY21.