SBI Q3 standalone net falls 7% to Rs 5,196 crore: Check key highlights

New Delhi: Country's largest lender State Bank of India (SBI) on Thursday posted nearly 7 per cent fall in its standalone net profit at Rs 5,196.22 crore for the third quarter ended December.

State Bank of India had posted net profit of Rs 5,583.36 crore in the October-December period of the previous fiscal.

Total income (standalone) also fell marginally to Rs 75,980.65 crore during Q3FY21, as against Rs 76,797.91 crore in the same period of 2019-20, SBI said in a regulatory filing.

On a consolidated basis, the bank posted a 5.8 fall in net profit at Rs 6,402.16 crore during the quarter under review, as against Rs 6,797.25 crore in the year-ago period. 

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Here are the highlights of the SBI Q3

Bank registered a Net Profit of Rs. 5,196 Crores in Q3FY21 as compared to Rs.4,574 Crores in Q2FY21, an increase of 13.60% sequentially. Year on year Net Profit has come down by 6.93%

Bank registered an Operating Profit of Rs. 17,333 Crores in Q3FY21 as compared to Rs.16,460 Crores in Q2FY21, an increase of 5.31% sequentially. Year on year Operating Profit has come down by 4.88%

Excluding the one-off interest income and other income during Q3FY20, the YoY growth in Net Profit and Operating Profit for Q3FY21 would be 133.78% and 26.23% respectively.

Net Profit for 9MFY21 at Rs. 13,960 crores, has increased by 27.99% YoY as against Rs. 10,907 crores in 9MFY20.

Net Interest Income for Q3FY21 increased to 2.27% sequentially and 3.75% YoY.

Domestic NIM for the quarter at 3.34%, has remained stable sequentially.

Non-Interest Income for Q3FY21 at Rs.9,246 Crores grew by 8.42% sequentially and 1.54% YoY.

Total Deposits grew at 13.64% YoY, out of which Current Account Deposit grew by 11.33% YoY, while Saving Bank Deposits grew by 15.99% YoY.

Credit Growth stood at 6.73% YoY, mainly driven by Retail (Personal) Advances (15.47% YoY), SME (5.62% YoY) and Corporate Advances (2.23% YoY).

Including the YoY growth in Corporate Bonds / CPs of Rs. 44,161 crores, the loan book has grown by 8.16% YoY.

Home loan, which constitutes 23% of Bank’s domestic advances, has grown by 9.99% YoY.

Net NPA ratio at 1.23% is down 142 bps YoY and 36 bps QoQ. Gross NPA ratio at 4.77% is down 217 bps YoY and 51 bps QoQ.

Provision Coverage Ratio (PCR) has improved to 90.21%, up 848 bps YoY and 202 bps QoQ.

Slippages Ratio for 9MFY21 has declined to 0.36% from 2.42% as at the end of 9MFY20.

Credit Cost as at the end of 9MFY21 has declined 85 bps YoY to 0.38%.

Cost to Income Ratio has marginally increased from 52.45% in 9MFY20 to 53.25% in 9MFY21.

Capital Adequacy Ratio (CAR) has improved by 77 bps YoY to 14.50% as on Dec 2020.

Return on Assets (RoA) increased by 6 bps YoY to 0.45% in 9MFY21 against 0.39% in 9MFY20.

Share of Alternate Channels in total transactions has increased from 91% in 9MFY20 to 93% in 9MFY21.