SBI STAND ALONE RESULTS Q2FY17 OVER Q2FY16

HIGHLIGHTS

• Operating Profit increased by 9.34% from Rs. 10,266 Cr in Q2FY16 to Rs. 11,224 Cr in Q2FY17.
• Non Interest Income increased by 35.93% from Rs. 6,197 Cr in Q2FY16 to Rs. 8,424 Cr in Q2FY17. The major contributors were growth in Profit on Sale of Investments, Fee Income, Forex Income and Recovery in Written Off Accounts.
• Net Interest Income increased by 1.30% from Rs. 14,253 Cr in Q2FY16 to Rs. 14,437 Cr in Q2FY17.
• Fee Income increased by 36.91% from 3,153 Cr in Q2FY16 to Rs. 4,317 Cr in Q2FY17.
• Operating Income increased by 11.79% from Rs. 20,450 Cr in Q2FY16 to  Rs. 22,862 Cr in Q2FY17.
• Net Profit declined by 34.56% from Rs. 3,879 Cr in Q2FY16 to Rs. 2,538 Cr in Q2FY17.

PROFITABILITY

• Total Interest Income increased from Rs. 40,658 Cr in Q2FY16 to Rs. 42,319 Cr in Q2FY17 (4.09% YOY growth).
• Interest Income on Advances increased from Rs. 28,982 Cr in Q2FY16 to Rs. 29,934 Cr in Q2FY17 (3.29% YOY growth). The lower growth is mainly due to reduction in Base Rate / MCLR during the period.
• Interest Income on Resources Operations increased from Rs. 10,745 Cr in Q2FY16 to Rs. 11,580 Cr in Q2FY17 ( 7.77% YOY growth).
• Total Interest Expenses increased from Rs. 26,405 Cr in Q2FY16 to Rs. 27,881 Cr in Q2FY17 (5.59% YOY growth).
• Interest Expenses on Deposits increased from Rs. 24,746 Cr in Q2FY16 to Rs. 26,120 Cr in Q2FY17 (5.55% YOY growth).
• Operating Expenses increased from Rs. 10,184 Cr in Q2FY16 to Rs. 11, 637 Cr in Q2FY17 (14.27% YOY growth).
• Staff Expenses increased from Rs. 6,142 Cr in Q2FY16 to Rs. 6,853 Cr in Q2FY17 (11.58% YOY increase).
• Overheads increased by 18.36% YOY mainly due to YOY growth of 31.38% in Tech-related expenses.

H1FY17 OVER H1FY16

• Operating Profit increased from Rs. 19,468 Cr in H1FY16 to Rs. 22,278 Cr in H1FY17 (14.43% YOY growth)
• Interest Income on Advances increased from Rs. 57,563 Cr in H1FY16 to Rs. 59,818 Cr in H1FY17 (3.92% YOY growth).
• Interest Income on Resources Operations increased from Rs. 20,998 Cr in H1FY16 to Rs. 22,467 Cr in H1FY17 (6.99% YOY growth).
• Interest paid on deposits increased from Rs. 48,843 Cr in H1FY16 to Rs. 51,289 Cr in H1FY17 (5.01% YOY growth).
• Non Interest Income increased from Rs. 11,285 Cr in H1FY16 to Rs. 15,759 Cr in H1FY17 (39.64% YOY growth).
• Fee Income increased from Rs. 6,355 Cr in H1FY16 to Rs. 7,714 Cr in H1FY17 (21.38% YOY growth)
• Staff Expenses increased from Rs. 12,048 Cr in H1FY16 to Rs. 13,110 Cr in H1FY17 (8.81% YOY).
• Operating Expenses increased by a moderate 12.27% YOY mainly due to 33.05% increase in tech-related expenses.
• Net Profit declined by 33.18% from Rs. 7,572 Cr in H1FY16 to Rs. 5,059 Cr in H1FY17.

DEPOSITS

• Deposits of the Bank increased from Rs. 16,34,115 Cr as on Sep15 to Rs. 18,58,999 Cr as on Sep16 (13.76%.YOY growth)
• Savings Bank Deposits increased from Rs. 5,50,397 Cr as on Sep15 to Rs. 6,41,995 Cr as on Sep 16 (16.64% YOY growth).
• Current Account Deposits increased from Rs. 1,01,033 Cr as on Sep 15 toRs. 1,13,810 Cr as on Sep 16 (12.65% YOY growth).

ADVANCES

• Gross Advances increased from Rs. 13,70,701 Cr as on Sep 15 to Rs. 14,81,831 Cr as on Sep 16 (8.11% YOY growth).
• Large Corporate Advances increased from Rs. 2,83,549 Cr as on Sep 15 to Rs. 3,12,390 Cr as on Sep 16 (10.17% YOY growth).
• Mid Corporate Advances increased from Rs. 2,04,749 Cr as on Sep 15 to Rs. 2,05,478 Cr as on Sep 16 (0.36% YOY growth).
• Retail Advances increased from Rs. 2,91,043 Cr as on Sep 15 to Rs. 3,50,465 Cr as on Sep 16 (20.42% YOY  growth). Home loans increased from Rs. 1,70,899 Cr as on Sep 15 to Rs. 2,05,734 Cr as on Sep 16 (20.38% YOY growth).
• SME Advances declined from Rs. 1,76,572 Cr as on Sep 15 to Rs. 1,66,052 Cr as on Sep 16 (decline of 5.96% YOY).
• Agri Advances increased from Rs. 1,18,419 Cr as on Sep 15 to Rs. 1,28,649 Cr as on Sep 16 (8.64% YOY growth).
• International Advances increased from Rs. 2,65,817 Cr as on Sep 15 to  Rs. 2,80,082 Cr as on Sep 16 (5.37% YOY growth).

ASSET QUALITY:

• Gross NPAs increased from Rs. 56,834 Cr as on Sep 15 to Rs. 1,05,783 Cr as on Sep 16.

KEY FINANCIAL RATIOS (SBI):

• Return on Assets remained stable at 0.44% as on Sep 16.
• Return on Equity increased to 7.38% as on Sep 16 from 7.36% in June 16.
• Average Cost of Deposits declined to 5.94% as on Sep 16 from 6.30% as on Sep 15 and from 5.98% as on June 16.
• Average Yield on Advances moved from 9.55% as on June 16 to 9.54% as on Sep 16 (10.32% as on Sep 15).
• Cost to Income Ratio declined by 48 basis points YOY to 49.95%.
• CASA Ratio increased by 50 basis points YOY to 42.74% from 42.24%.
• Net Interest Margin (Domestic) declined by 27 basis points YOY to 3.05% from 3.32%.

Performance of SBI Group:

• Gross NPA Ratio for SBI Group increased from 4.32% as on 30^th Sep 15 to 8.49% as on 30^th Sep 16, while Net NPA Ratio increased from 2.27% as on 30^th Sep  15 to 5.10% as on 30^th Sep 16.
• Net Profit (after minority interest) of SBI Group declined from Rs. 9705 Cr in H1FY16 to Rs. 1,067 Cr in H1FY17.