State Bank of India’s net profit decreased by 6% year over year in the first quarter to Rs 6,068 bil

State Bank of India’s net profit decreased by 6% year over year in the first quarter to Rs 6,068 bil

As a result of MTM (mark-to-market) Losses on the investment book, the bank’s operating profit for the June 2022 quarter decreased to Rs 12,753 billion from Rs 18,975 billion in Q1 FY22, according to SBI in an exchange filing. The bank’s ROA and ROE, which are 0.48 percent and 10.09 percent, respectively, were negatively impacted by the MTM hit, the statement added.

Domestic NIM rose to 3.23 percent in Q1 FY23 from 3.15 percent in Q1 FY22, an increase of 8 basis points year over year. The number of provisions decreased by 39% sequentially to Rs. 4,392.38 crores.

Comparing the current quarter to the same quarter last year, assets performed better. On the other side, the bank’s net NPA ratio decreased to 1% from 1.77 during the prior quarter. In the third quarter of March 2022, it had been 1.02 percent. “Net NPA ratio down by 77 bps YoY at 1.00%, while Gross NPA ratio down by 141 bps YoY at 3.91%,” SBI reported. After the June 2022 quarter, its capital adequacy ratio (CAR) was 13.43%. The slippage ratio for Q1 FY23 is currently 1.38 percent, an improvement of 109 basis points year over year.

GNPAs totaled Rs 1.13 lakh crore as of the end of the June 2022 quarter, up from Rs 1.12 lakh crore and Rs 1.34 lakh crore from the previous quarter and year, respectively. According to the BSE report, net NPAs were Rs 28,258 crore in the quarter under review, Rs 27,966 crore before, and Rs 43,153 crore a year earlier.

“Bank’s balance sheet size exceeds 50 trillion rupees, “announced the SBI. “As of the end of the first quarter of FY23, the capital adequacy ratio (CAR) is 13.43 percent, “SBI made this statement the day it released its Q1 results.

Retail personal advances, up 18.58% from the same quarter last year, and home loans, up 13.77% year over year, were the main drivers of the increase in domestic advances. Corporate loan volume increased by 10.57%, while SME and agricultural loans also increased year over year by 10.01% and 9.82%, respectively. “Whole Bank Deposits rose at an 8.73% YoY rate, with CASA Deposits growing at a rate of 6.54% YoY. As of June 30, 2018, the CASA ratio was 45.33 percent, according to the bank.

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