SBI Q1FY21 RESULTS!

Highlights

·      Bank has delivered a strong performance in Q1FY21 with all round improvement in Profitability, Capital Adequacy and Provision Coverage Ratio, including Additional Provision over Minimum Regulatory Provisions required.

·      Bank registered a Net Profit of Rs.4,189Crores in Q1FY21, an increase of 81% over Q1FY20.

·      Operating Profitincreased to Rs. 18,061 Crores in Q1FY21 from Rs.13,246 Crores in Q1FY20, an increase of 36.35% YoY.

·      Net Interest Income of the Bankgrew by 16.14% YoY during Q1FY21.

·      Domestic Net Interest Margin (NIM) improved to 3.24% in Q1FY21, registering an increase of 23 bps YoY.

·      Non-Interest Income for Q1FY20 at Rs. 9,497Cr is up by 18.49% YoY.

·      Total Deposits grew at 15.96% YoY, out of whichCurrent Account Deposit grewby12.98% YoY, while Saving Bank Deposits grew by 17.29% YoY.

·      Credit Growthstood at 6.58% YoY, mainly driven by Retail(Personal) Advances (12.85% YoY)and Foreign Office Advances (11.19% YoY).

·      Home loan, which constitutes 22% of Bank’s domestic advances, has grown by 10.72% YoY.

·      Net NPA ratio at 1.86% isdown 121 bps YoY and 37 bps QoQ.Gross NPAratioat 5.44%is down 209 bps YoY and 71 bps QoQ.

·      Provision Coverage Ratio(PCR)hasimproved to 86.32%, up 698 bps YoY and 270 bps QoQ.

·      Slippages Ratiofor Q1FY21 has declined to 0.60% from 2.83% as at the end of Q1FY20.

·      Credit Cost as at the end of Q1FY21has declined 47 bps YoY to 1.56%.

·      Cost to Income Ratiohas improved from 57.21% in Q1FY20 to 50.02% in Q1FY21, an improvement of 719 bps.

·      Capital Adequacy Ratio (CAR)has improved by 51 bps YoY to 13.40% as onJune 2020.

·      Return on Assets(RoA) increased by 17 bps YoY to 0.42% in Q1FY21 against 0.25% in Q1FY20.

·      Share of Alternate Channels in total transactionshas increased from 90% in Q1FY20 to 93% in Q1FY21.