State Bank of India Q4FY12 resut first cut

[RAJESH DESAI]

Dear Sir/Madam, 

 

State Bank of India has announced its Q4FY12 along with Annual FY12 result.

 

On the quarterly basis, the bank’s total income increased by 24.84% QoQ and 31.80% YoY to INR16967.79 crores mainly, because of 153.93% QoQ growth in its other income to INR5264.04 crores. Profit After Tax (PAT) increased by 24.13% QoQ and 19297.84% YoY to INR4050.27 crores. For the whole year of FY12, the bank’s total income increased by 9.97% YoY to INR87713.27 crores whereas, Profit After Tax (PAT) increased by 43.60% YoY to INR15343.10 crores. The bank has reported a 27.06% YoY growth in its Net Interest Income (NII) for the whole year

 

The Bank has reported a growth in advances by 15.63% YoY to INR1163670.21 crores and a growth in deposits by 12.67% YoY to INR1414689.40 crores. On the assets front, the bank has improved its assets quality in this quarter. The bank’s NNPA and GNPA stood at 1.82% and 4.44%, decreased by 40 and 17bps QoQ respectively. Moreover, the bank’s Capital Adequacy Ratio (CAR) stood at 13.86% improved by 226bps QoQ and 188bps YoY. However, for the whole year of FY12, Net Interest Margin (NIM) of the bank stood at 3.85%, improved by 53bps YoY while Provision Coverage Ratio (PCR) stood at 68.10%.

 

SBI aims to grow its Advances by 16-18 per cent and deposits by 20 per cent this fiscal

 

The Bank has declared a dividend of Rs.35/- per share for the year ended 31^st March, 2012.

 

 

Q4’12 (INR Crores)	Consensus	Actual	Variance
Total Income	15573.6	16967.79	8.95%
PAT	3589.3	4050.27	12.84%

 

FY12 (INR Crores)	Consensus	Actual	Variance
Total Income	85619.10	87713.27	2.45%
PAT	14232.60	15343.10	7.80%

 

State Bank of India Q4FY12 Result-[INR-Crores]						Consolidated
DESCRIPTION	Q4'12	Q3'12	Q4'11	QoQ%	YoY%	FY12	FY11	YoY%
Interest Earned	28695.50	27714.35	21721.35	3.54	32.11	147197.39	113636.44	29.53
Interest Expended	16991.75	16195.56	13663.30	4.92	24.36	89319.55	68086.4	31.19
NII	11703.75	11518.79	8058.05	1.61	45.24	57877.84	45550.04	27.06
Other Income	5264.04	2073.02	4815.49	153.93	9.31	29835.43	34207.48	-12.78
Total Income	16967.79	13591.81	12873.54	24.84	31.80	87713.27	79757.52	9.97
Operating Expenses	7371.00	6331.81	6793.83	16.41	8.50	46856.03	46047.21	1.76
Operating Profit before Prov.& Cont.	9596.79	7260.00	6079.71	32.19	57.85	40857.24	33710.31	21.20
Provisions and Contingencies	3140.41	2407.42	4156.98	30.45	-24.45	16244.44	13319.76	21.96
Exceptional Items	-	-	-	-	-	-	470.8	-
PBT	6456.38	4852.58	1922.73	33.05	235.79	24612.80	19919.75	23.56
Tax	2406.11	1589.54	1901.85	51.37	26.51	8639.50	8739.81	-1.15
Profit After Tax before Minority Interest	4050.27	3263.04	20.88	24.13	19297.84	15973.30	11179.94	42.87
Share of Minority	-	-	-	-	-	630.20	494.99	27.32%
Net Profit After Minority Interest	4050.27	3263.04	20.88	24.13	19297.84	15343.10	10684.95	43.60%
Adj Calculated EPS	63.76	51.39	0.33	24.07	19221.21	241.55	168.28	43.54
Advances	1163670.21	1122127.00	1006401.55	3.70	15.63	1163670.21	1006401.55	15.63
Deposits	1414689.40	1353233.00	1255562.48	4.54	12.67	1414689.40	1255562.48	12.67
	Q4'12	Q3'12	Q4'11	QoQ (bps)	YoY(bps)	FY12	FY11	YoY(bps)
Capital Adequacy Ratio Basel II	13.86%	11.60%	11.98%	226	188	13.86%	11.98%	188
% of Net NPAs	1.82%	2.22%	1.63%	-40	19	1.82%	1.63%	19
% of Gross NPAs	4.44%	4.61%	3.28%	-17	116	4.44%	3.28%	116
CASA%	46.64%	47.52%	49.82%	-88	-318	46.64%	49.82%	-318
NIM % (Whole Bank)	3.89%	4.05%	3.07%	-16	82	3.85%	3.32%	53
Provisions Coverage%	68.10%	62.52%	64.95%	558	315	68.10%	64.95%	315
C/D ratio	82.26%	82.92%	80.16%	-67	210.08	82.26%	80.16%	210
C/I Ratio	43.44%	46.59%	52.77%	-314	-933.25	53.42%	57.73%	-431
OI/TI	56.56%	53.41%	47.23%	314	933.25	46.58%	42.27%	431

 

 

Regards,

 

Team Microsec Research

--
CA. Rajesh Desai