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  3. SBI Q1 FY23 Results

SBI Q1 FY23 Results

by Ankur Sharma August 6, 2022

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Highlights

Balance Sheet

·      Bank’sBalanceSheetsizecrosses Rs. 50lakhcrores.

  • Creditgrowth93%YoY.DomesticAdvancesgrewat13.66%YoYandForeignOffices’Advancesgrewby22.39%YoY.
  • DomesticAdvancesgrowthdrivenbyRetailPersonalAdvances(18.58%YoY),outof which HomeLoangrew by 13.77%YoY.
  • CorporateLoan57%;SMEandAgriloanshavealsoregisteredYoYgrowthof10.01%and9.82%respectively.
  • WholeBankDeposits73%YoY,outofwhichCASADepositgrewby6.54%YoY.CASA ratiostandsat45.33%as on30th June 22.

Profitability

  • 12,753croresasagainstRs.18,975croresinQ1FY22,impacted byMTMLosses oninvestmentbook.
  • 6,068croresasagainst Rs.6,504croresinQ1FY22.
  • TheMTMhitalsohadanadverseimpactonbank’sROAandROE,whichstandat0.48%and 10.09%respectively.
  • ExcludingTradingIncomeandMTM,39%YoY,fromRs.16,873croresinQ1FY22toRs.19,302 croresinQ1FY23.
  • NetInterestIncome(NII)87%YoY.
  • Domestic NIMforQ1FY23 increasedby 8bpsYoYto 3.23%.

AssetQuality

  • GrossNPAratio91%,whileNetNPAratiodownby77bps YoY at1.00%.
  • ProvisionCoverageRatio(PCR)improvedby719bpsYoYat05%.PCR(Incl.AUCA) standsat 90.14%.
  • SlippageRatiofor Q1FY23standsat 1.38%;improvedby109bps YoY.
  • CreditCostforQ1FY23standsat 0.61%;improvedby18bpsYoY.

CapitalAdequacy

  • CapitalAdequacyRatio(CAR)as attheendofQ1FY23standsat13.43%.

AlternateChannels

  • 65%ofSBaccountsand38%ofretailassetaccountsacquireddigitallythroughYONO.
  • 1%inQ1FY22to96.6%inQ1FY23.

KeySummary ofQ1FY23Results

Rs inCroresQ1FY22Q4FY22Q1FY23YoY %QoQ%
Profit & Loss
InterestIncome65,56470,73372,67610.852.75
InterestExpenses37,92639,53541,4809.374.92
NetInterestIncome27,63831,19831,19612.87-0.01
NIM,%(Domestic)3.153.403.238bps-17bps
OperatingProfit18,97519,71712,753-32.79-35.32
Loanlossprovisions5,0303,2624,268-15.1430.86
Profitaftertax6,5049,1146,068-6.70-33.42
Rsin CroresJun21Mar 22Jun22YoY %QoQ%
BalanceSheet
Grossadvances25,23,79328,18,67129,00,63614.932.91
DomesticCorporate7,90,4948,70,7128,74,01410.570.38
DomesticRetailPersonal8,72,10410,02,30310,34,11118.583.17
Ofwhich:Homeloans5,05,4735,61,6515,75,07513.772.39
Deposits37,20,98740,51,53440,45,6968.73-0.14
Domestic CASA16,59,23417,75,08417,67,6666.54-0.42
DomesticTermDeposits19,50,10721,45,11721,32,1859.34-0.60
CASA Ratio (%)45.9745.2845.33-64 bps5bps
GNPA1,34,2591,12,0231,13,272-15.631.11
NNPA43,15327,96628,258-34.521.04
Ratios,%Q1FY22Q4FY22Q1FY23YoY, bpsQoQ,bps
AssetQuality
GNPA5.323.973.91-141-6
NNPA1.771.021.00-77-2
PCR(InclAUCA)85.9390.2090.14421-6
PCR67.8675.0475.057191
SlippageRatio2.470.431.38-10995
CreditCost0.790.490.61-1812
CapitalRatios
CET-1ratio9.919.949.72-19-22
Tier-1ratio11.3211.4211.15-17-27
CAR13.6613.8313.43-23-40
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