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State Bank of India Q4 result 2022: Net profit rises 41% to Rs 9,113.5 crore but misses estimate

By Priyanka Verma 
Updated Date

New Delhi: State Bank of India (SBI) on Friday, May 13, reported a 41.2 per cent jump in its standalone net profit at Rs 9,113.53 crore for the fourth quarter ended 31 March, 2022. The lender had posted a net profit of Rs 6,450.75 crore in the year-ago period.

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The board of the lender approved Rs 7.10 per share dividend. The record date for the purpose is May 26, 2022.

Shares of SBI on Friday traded over 3.5 per cent lower at Rs 445.85 apiece on BSE around 3 pm.

Net profit for the year FY22 grew by 55.19 per cent YoY to Rs 31,676 crore.

Income from interest on loans rose 8.6 per cent, while provisions for bad loans fell by two-thirds to Rs 3,262 crore, the bank said.

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SBI’s net interest income (NII) for the quarter grew 15.3 per cent at Rs 31,198 crore from Rs 27,067 crore. Domestic net interest margin (NIM) increased by 29 bps YoY at 3.40 per cent.

Operating profit for FY22 grew by 5.22 per cent YoY to Rs 75,292 crore; while for Q4FY22 it came at Rs. 19,717 crore.

Further, SBI’s gross slippages came at Rs 3,606 crore. The bank also mentioned that its retail portfolio crossed Rs 10 lakh crore in the financial year ending March, 2022.

Gross non-performing assets (NPAs) were at 3.97 per cent of the total assets, down from 4.50 sequentially and 4.98 per cent year-on-year. Net NPA stood at 1.02 per cent compared to 1.34 per cent and 1.50 per cent, respectively.

The lender said its Basel III Capital Adequacy Ratio (CAR) improved to 13.83 per cent, compared to 13.23 per cent at the end of December quarter, and 13.74 per cent in the year ago quarter.

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