Re: {LONGTERMINVESTORS} Re: State Bank of India

[RAJESH DESAI]

State Bank of India

 Mar`12 Result Discussion

Date:	18 May 2012
Time:	4:30 PM
Venue:	BURDWAN and COOCHBEHAR HALL OF HOTEL “THE OBEROI GRAND”, Kolkata

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CA. Rajesh Desai

[RAJESH DESAI]

Announces Q4 & FY12 results & Auditors' Report for the period March 31, 2012 | 18/05/12 12:23
	State Bank of India has announced the following results for the quarter & year ended March 31, 2012 The Audited results for the Quarter ended March 31, 2012 The Bank has posted a net profit of Rs. 40502.70 million for the quarter ended March 31, 2012 where as the same was at Rs. 208.80 million for the quarter ended March 31, 2011. Total Income is Rs. 339595.40 million for the quarter ended March 31, 2012 where as the same was at Rs. 265368.40 million for the quarter ended March 31, 2011. The Audited results for the Year ended March 31, 2012 The Bank has posted a net profit of Rs. 117072.90 million for the year ended March 31, 2012 where as the same was at Rs. 82645.20 million for the year ended March 31, 2011. Total Income is Rs. 1208729.00 million for the year ended March 31, 2012 where as the same was at Rs. 972189.60 million for the year ended March 31, 2011. The Consolidated Results are as follows : The Audited consolidated results for the Year ended March 31, 2012 The Group has posted a net profit after minority interest of Rs. 153431.00 million for the year ended March 31, 2012 where as the same was at Rs. 106849.50 million for the year ended March 31, 2011. Total Income is Rs. 1770328.20 million for the year ended March 31, 2012 where as the same was at Rs. 1478439.20 million for the year ended March 31, 2011. - Consequent to the notification of the "Acquisition of State Bank of India Commercial & International Bank Ltd Order, 2011" Issued by the Govt. of India, the undertaking of State Bank of India Commercial & International Bank Ltd. (SBICI) stands transferred to and vests in State Bank of India ("the Bank"), with effect from July 29, 2011, the effective date. The results for the financial year ended March 31, 2012 include the results of operations of the erstwhile SBICI for the period from July 29, 2011. The figures of the previous year ot the Bank are not comparable to that extent.
	Click here for more details

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CA. Rajesh Desai

[RAJESH DESAI]

State Bank of India - Sharekhan Cluster: Apple Green Recommendation: Buy Price target: Rs2,725 Current market price: Rs1,942 Earnings, asset quality surprise positively  Result highlights State Bank of India (SBI)'s Q4FY2012 net earnings came in ahead of our estimates as they grew 24.1% quarter on quarter (QoQ) to Rs4,050 crore. While core income growth remained strong the sharp pick up in non-interest income compensated for a higher operating expense (opex) and tax expenses.  The net interest income (NII) grew by 45.2% year on year (YoY) to Rs11,704 crore, very much in line with our estimates. The net interest margin (NIM) remained healthy at 3.9% (declined 16bps QoQ) and continued to support NII growth.  Advances grew by 14.7% YoY (flat sequentially) while deposits grew 11.7% YoY. The incremental advances growth in Q4FY2012 was mainly in agriculture (14.8% QoQ) and retail (4.1% QoQ) segments. The domestic current account savings account (CASA) ratio declined to 46.6% from 47.5% in Q3FY2012.  The asset quality improved as the gross and net non performing assets (NPAs) of the bank declined in absolute terms and also as a percentage of advances. This was driven by a significant decline in slippages and healthy recoveries. The bank restructured Rs5,100 crore of advances, taking the total restructured book to Rs37,168 crore (4.3% of total advances).  The non interest income grew by 9.3% YoY (154% QoQ) led by a strong growth in the fee income and dividend from subsidiaries (Rs515 crore). The opex increased due to increase in employee expenses (superannuation benefits) and higher overheads. Outlook SBI's Q4FY2012 numbers indicate strength in core operations and moderation in asset quality pressures which is a big positive. We expect the bank's earnings to grow at a compounded annual growth rate (CAGR) of 26% over FY2012-14 resulting in a return on asset (ROA) of 0.95% and return on equity (ROE) of 17%. We continue to maintain Buy with a sum of the parts (SOTP) based target price of Rs2,725.

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CA. Rajesh Desai

[RAJESH DESAI]

pfa

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CA. Rajesh Desai

[RAJESH DESAI]

[RAJESH DESAI]

12 p.m. New Delhi. Kadambi Narahari, chief executive officer of SBI Cards & Payment Services Pvt., and Sanjeev Jain, CEO of GE Capital Business Processes Management Services Pvt., will hold a press conference to announce a strategic initiative.



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CA. Rajesh Desai

[RAJESH DESAI]

PFA

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CA. Rajesh Desai

[RAJESH DESAI]

MUMBAI

 

 

: State Bank Q2 earnings press meet (1430 hrs)


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CA. Rajesh Desai

[Rajesh Desai]

CNBC-TV18 Exclusive 
Sources Say 
UB Holdings Drags SBI To Bombay High Court
Files Application Restraining Lenders on USL Share Sale
SBI likely to continue selling shrs despite Case Filed At HC
Lenders May Send Official Loan Recall Notice In Next Few Days

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CA. Rajesh Desai

[Rajesh Desai]

 State Bank of India, has no immediate plan to cut lending rates, given the level of inflation. However, it might cut deposit rates.

It has also decided against merging any of its associate banks with it in the current financial year, due to capital constraints and shortage of time on hand.

In her first formal interaction with journalists after becoming chairperson, Arundhati Bhattacharya said the bank’s Asset/Liability Committee will take a final decision on cutting or raising rates.

Currently, SBI offers the lowest rates on home and car loans.

A Krishna Kumar, managing director, said the bank was not reducing the home loan rates as these were already at par with the base rate.

Bhattacharya said the government’s missive to public sector banks on reducing interest rates to increase the consumer loan business was not “directed lending”. There was no external pressure, she said.

On business growth, she said the pace of retail asset expansion was steady, while the bank was selective about corporate lending. It would look at companies with investment grade and growth potential.

She stressed the battle on non-performing assets (NPAs), by way of effort to arrest slippages and improve the recoveries, was to be intensified. SBI will revamp structures and simplify processes to reduce the time for resolution of NPA cases.

On consolidation within the group, she said the merger of associate banks was a long process. It also needed capital and half the financial year was over. The process might start this year but completion might not take place. Pratip Chaudhuri, her predecessor, had left the decision in this regard to his successor.

Earlier, it had been stated that SBI was to announce in September the name of the next associate bank it would be merging with itself. A panel headed by A Viswanathan, managing director, for merger of the associate banks has given  a report, preparing the groundwork and economic logic.

SBI has five associates — State Bank of Hyderabad, State Bank of Bikaner and Jaipur, State Bank of Travancore, State Bank of Mysore and State Bank of Patiala. Two others, State Bank of Indore and State Bank of Saurashtra, were merged with SBI in 2008 and 2010, respectively.

The new chairperson has also proposed removing the cap of two transfers on ‘spouse grounds’ for both female and male employees. She is also considering introducing a longer sabbatical (leave on loss of pay) for employees, especially women, similar to the scheme she introduced in SBI Caps, when she was heading it. At present, SBI Capital offers leave without pay for up to six years.

On Tue, Oct 8, 2013 at 2:55 PM, manoj tiwari <manjtiwa...@gmail.com> wrote:

Meet Arundhati Bhattacharya, SBI’s new chief

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CA. Rajesh Desai