Tuesday, May 22, 2018

State Bank of India PRESS RELEASE Q418 RESULTS : net loss of Rs. 7,718 Cr during the Quarter.

Q4FY18 OVER Q4FY17
 The Bank incurred a net loss of Rs. 7,718 Cr during the Quarter.
 Bank’s net loss is attributable to:
▪ Lower Trading Income and significant MTM losses due to hardening of
bond yields
▪ Incremental Provision during the quarter for NPAs.
▪ Higher provisioning on account of Wage Revision and enhancement in
Gratuity ceiling.
 Bank has not availed the benefit of RBI dispensation with regard to amortization of
MTM losses.
 Operating Profit declined by 8.24% from Rs. 17,309 Cr in Q4FY17 to Rs. 15,883 Cr
in Q4FY18.
 Net Interest Income declined by 5.18% from Rs. 21,065 Cr in Q4FY17 to Rs. 19,974
Cr in Q4FY18, contributed mainly by reduction in MCLR & Base Rate and increase in
NPAs.
 Interest Expenses on Deposits was down by 6.28% YoY from Rs. 35,431 Cr in
Q4FY17 to Rs. 33,206 Cr in Q4FY18 despite a growth in Deposits by 4.68% YoY.
 Non-Interest Income improved by 2.23% from Rs. 12,222 Cr in Q4FY17 to
Rs. 12,495 Cr in Q4FY18, driven mainly by higher fee income and recovery in written
off accounts.
 Fee Income is up from Rs. 7,434 Cr in Q4FY17 to Rs. 8,430 Cr in Q4FY18, a YoY
growth of 13.40% with significant contribution from Cross Sell income which registered
a growth of 65.83% during the period.
 Recovery in Written-Off Accounts registered a robust growth of 21.18%.
 Increase in Staff Expenses was contained at 3.82% from Rs. 8,914 Cr in Q4FY17 to
Rs. 9,254 Cr in Q4FY18, despite higher provisions for wage revisions and gratuity.
 Increase in Overhead Expenses was contained at 3.79% from Rs. 7,064 Cr in
Q4FY17 to Rs. 7,332 Cr in Q4FY18.
 Increase in Operating Expenses was contained at 3.80% YoY.

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