SBI working results- 9M FY06-07

160086 Investors following SBI. Share this News with them.

0

Like this story, share it with millions of investors on M3

SBI working results- 9M FY06-07

State Bank of India working results – 9M FY06-07

Post your opinion here

 

0

Tweet

Share on Tumblr

RELATED NEWS Remain invested in SBI SBI Q3 net seen up 6.8% at Rs 1191cr SBI: big one-off credits to yield higher profits ALSO READ See latest News about SBI See previous management interviews See what other Experts & Brokerages are saying about SBI SBI BSE | NSE 25/05/12 Are Mutual Funds betting on SBI?

Profitability:

• The Operating Profit for 9M FY07 at Rs.8163.97 crores is up from Rs.5574.11 crores (excluding the effect of one-time items in 9M FY06) thereby registering a growth of 46.46%.
• Bank has registered Operating Profit of Rs.2854.96 crores in Q3 FY07, which is up from Rs.864 crores (excluding one-time items) in Q3FY06 thereby registering a growth of 230.58%.
•  Bank has posted a Net Profit of Rs.3048.11 crores for 9M FY07 registering a decline of 14.22% when compared with the Net Profit of Rs 3553.38 crores for 9M FY06. Excluding the effect of one-time items till 9M FY06, Net Profit this year is higher.
• Net Interest Income (NII) in 9M FY07 is up by 19.11% over 9M FY06 (excluding one-time items). However total NII in 9M FY07 is Rs.11734.08 crores as against  Rs 12081.07 crores in 9M FY06, i.e., a decline of 2.87%. 
• Net Interest Margin (NIM) of the Bank for the 9 month ended 31.12.06 was at 3.29%. Dec 2005 NIM excluding one-time item was 2.85% and thus NIM has improved by 44 bps.
• Non-interest income (Excluding Treasury Income and one time item) grew very well by 22.17% from Rs 3358 crores in 9M FY06 to Rs.4103 crores in 9M FY07. Total non-interest income increased from Rs.4712 crores in 9M FY06 to Rs.5007 crores in 9M FY07 thereby registering a growth of 6.28%.
• Operating Expenses have registered a decline of 2.20% due to reduction in staff cost by 4.68% in 9M FY07 over 9M FY06. Excluding one-time payment of salary arrears of Rs.313 crores paid in Q3 FY06; the staff expenses including Contribution for Employees have registered a decline of 19.59% in Q3 FY07 over Q3 FY06. This is despite the on-going payments to staff opting for early exit under the Bank's 'Exit Option'.
• Provisions made for current 9-month period were at Rs.5115.86 crores, as against Rs 4468.67 crores made in 9M FY06. The major amounts of provisions made were as under:
• Provision for depreciation in investment Rs.2185.87 crores as against Rs.2824.65 crores provision during 9M FY06. Provision made during Q3 FY07 was Rs.658.48 crs.
• Provision for NPAs Rs.698.26 crores, as against Rs 144.18 crores during 9M FY06. The provision cover stands at 56.98% (Sept 06 Provision Cover 54.06%)
• Provision for taxes at Rs.1986.37 crores as against Rs 1414.74 crores in 9M FY06.

Contd on page 2....