|
Operating profit before provisions and contingencies rose by nearly 10% to Rs 18,079 crore in Q2 FY22 over Q2 FY21. Net interest income grew by 10.65% to Rs 31,184 crore in Q2 FY22 from Rs 28,181 crore posted in Q2 FY21. Net interest margin stood at 3.5% in Q2 FY22 as compared to 3.34% in Q2 FY21.
Loan loss provisions contracted nearly 52% to Rs 2,699 crore in Q2 FY22 from Rs 5,619 crore posted in Q2 FY21. The bank created provisions on account of change in family pension rules and reported an exceptional cost of Rs 7,418 crore in Q2 FY22. Provision Coverage ratio stood at 87.68% in Q2 FY22.
On the asset quality front, slippages during the quarter tumbled 73.3% quarter on quarter to Rs 4,176 crore in Q2 FY22 from Rs 15,666 crore posted in Q1 FY22. Slippages in Q2 FY21 stood at Rs 2,756 crore. Slippage Ratio for Q2 FY22 was at 0.66%, down from 2.47% posted in Q1 FY22.
The ratio of gross NPAs to gross advances stood at 4.9% as on 30 September 2021 as against 5.32% as on 30 June 2021 and 5.28% as on 30 September 2020. The ratio of net NPAs to net advances stood at 1.52% as on 30 September 2021 as against 1.77% as on 30 June 2021 and 1.59% as on 30 September 2020.
Total deposits grew by 9.77% to Rs 38,09,630 crore as of 30 September 2021 from 30 September 2020. Current Account Deposits grew by 19.20% year on year and Saving Bank Deposits grew by 10.55% year on year.
Gross advances rose 6.1% to Rs 25,30,777 crore as of 30 September 2021 over 30 September 2020. Domestic Advances Growth stood at 4.61% year on year while Home loan, which constitutes 24% of bank's domestic advances, has grown by 10.74% year on year.
Capital Adequacy Ratio (CAR) at the end of Q2 FY22 stood at 13.35% from 13.66% in Q1 FY22 and 14.72% in Q2 FY21.
State Bank of India (SBI) is an Indian multinational, public sector banking and financial services statutory body. As of 30 September 2021, the Government of India held 57.62% stake in the bank.
Post announcement of result, shares of SBI hit a record high of Rs 542.20 on BSE.
|