State Bank of India - Q4FY12 resut first cut - Microsec Research

State Bank of India has announced its Q4FY12 along with Annual FY12 result.

On the quarterly basis, the bank's total income increased by 24.84% QoQ and 31.80% YoY to INR16967.79 crores mainly, because of 153.93% QoQ growth in its other income to INR5264.04 crores. Profit After Tax (PAT) increased by 24.13% QoQ and 19297.84% YoY to INR4050.27 crores. For the whole year of FY12, the bank's total income increased by 9.97% YoY to INR87713.27 crores whereas, Profit After Tax (PAT) increased by 43.60% YoY to INR15343.10 crores. The bank has reported a 27.06% YoY growth in its Net Interest Income (NII) for the whole year.

The Bank has reported a growth in advances by 15.63% YoY to INR1163670.21 crores and a growth in deposits by 12.67% YoY to INR1414689.40 crores. On the assets front, the bank has improved its assets quality in this quarter. The bank's NNPA and GNPA stood at 1.82% and 4.44%, decreased by 40 and 17bps QoQ respectively. Moreover, the bank's Capital Adequacy Ratio (CAR) stood at 13.86% improved by 226bps QoQ and 188bps YoY. However, for the whole year of FY12, Net Interest Margin (NIM) of the bank stood at 3.85%, improved by 53bps YoY while Provision Coverage Ratio (PCR) stood at 68.10%.

SBI aims to grow its Advances by 16-18 per cent and deposits by 20 per cent this fiscal.

The Bank has declared a dividend of Rs.35/- per share for the year ended 31st March, 2012.

Source : Equity Bulls

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