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State Bank of India Q4 FY22 Results

20 May 2022
3 minutes

India’s largest bank State Bank of India (SBI) posted its Q4 FY22 results on May 13, 2022. The bank reported a jump of 8.1% QoQ (Quarter on Quarter) in its Net Profit for the quarter under review which came in at Rs 9,114 crore against Rs 8,431 crore in the previous quarter. On a YoY (Year on Year) basis, the Net Profit is up 41.3% to Rs 9,114 crore from Rs 6,450 crore in the year ago period.

SBI has clocked its operating profit at Rs 19,716 crore for Q4 FY22, against Rs 18,521 crore in the previous quarter. The bank’s total income was up nearly 40% QoQ to Rs 11,880 crore in Q4 FY22 from Rs 8,673 crore in the previous quarter. However, the total income is down by 36.5% YoY to Rs 11,880 crore from Rs 16,225 crore in the corresponding quarter in the previous financial year.

SBI’s Gross NPA (Non-Performing Assets) are down to 3.97% from 4.50% in the previous quarter and 4.98% in the year ago period. Its Net NPA is down to 1.02% from 1.34% in Q3 FY22 and 1.50% in Q4 FY21.

The bank’s interest income is up 8.65% YoY to Rs 70,733 crore from Rs 65,102 crore in the year ago period. SBI has declared a dividend of Rs 7.10 per equity share which is payable on June 10, 2022.

Highlights

  • Bank registered its highest quarterly Net Profit of Rs 9,114 crore in Q4 FY22, a growth of 41.28% YoY
  • Net profit for FY22 grew by 55.19% YoY to Rs. 31,676 crore
  • Domestic NIM (Net Interest Margin) for Q4 FY22 increased by 29 base points YoY at 3.40%. Net Interest Income (NII) for Q4 FY22 increased by 15.26% YoY
  • Operating Profit for Q4FY22 at Rs. 19,717 crores
  • Retail Portfolio crosses Rs. 10 lakh crore
  • Home loan, which constitutes nearly 23% of SBI’s domestic advances, has grown by 11.49% YoY
  • Corporate Loans has also registered growth of 11.15% QoQ during Q4 FY22
  • Total Deposits grew at 10.06% YoY Saving Bank Deposits grew by 10.45% YoY while Term Deposit grew by 11.54% YoY
  • CASA Deposit grew by 7.78% YoY with CASA ratio of 45.28% as on 31st March 22
  • Gross NPA ratio down by 101 base points YoY at 3.97%, while Net NPA ratio down by 48 base points YoY at 1.02%

Segment-wise results

  • Treasury Operations: Revenue up 6.2% YoY to Rs 24,098 crore from Rs 22,683 crore in the year ago period
  • Corporate/ Wholesale Banking Operations: Revenue down by 16.5% YoY to Rs 19,825 crore from Rs 23,767 crore in the year ago period
  • Retail Banking Operations: Revenue up 12.5% YoY to Rs 38,075 crore from Rs 33,840 crore in the year ago period
  • Unallocated: Revenue down by 40.7% YoY to Rs 614 crore from Rs 1,036 crore in the year ago period

Other things to know about SBI

  • The bank’s P/E ratio is at 18.43 against the industry average of 19.17
  • SBI’s P/B ratio is at 1.45 against the industry average of 2.01
  • The bank’s dividend yield is at 0.86% against the industry average of 0.93%

To read the RA disclaimer, please click here.
Research Analyst: Bavadharini KS

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