What is the operating profit of SBI?
The Board declared a dividend of Rs 11.30 per equity share (1130%) for the financial year ended March 2023. The date of payment is fixed on June 14. – SBI Q4 Results: PAT zooms 83% YoY to Rs 16,695 crore; NII up 29% India’s largest bank State Bank of India ( SBI ) reported an 83% growth in standalone net profit at Rs 16,695 crore for the quarter ended March. It was Rs 9,113 crore in the same quarter last year.
- The Board declared a dividend of Rs 11.30 per equity share (1130%) for the financial year ended March 2023.
- The date of payment is fixed on June 14.
- Net interest income for the fourth quarter rose 29% to Rs 40,393 crore, compared with Rs 31,198 crore in the corresponding quarter of last year.
- Both net profit and NII were above ET Now poll estimates.
The poll saw profit around Rs 15,000 crore and NII at Rs 40,000 crore. Provisions (other than tax) and contingencies fell sharply by 54% to Rs 3,316 crore for the quarter under review against Rs 7,237 crore a year ago. The state-owned lender also more than halved its provisions for non-performing assets (NPAs) at Rs 1,278 crore during the January-March period.
- On the asset quality front, gross NPA ratio improved to 2.78% as of March quarter, down from 3.14% in December quarter and 3.97% in the March quarter of last year.
- However, net NPA ratio was lower at 0.67% in the fourth quarter.
- It was 0.77% in third quarter and 1.08% in the year-ago quarter.
- The bank’s operating profit for the March quarter rose 25% year-on-year to Rs 24,621 crore.
The domestic net interest margin (NIM) during the quarter increased 44 basis points YoY to 3.84%. The provision coverage ratio (PCR) of the Bank was at 76.39%, improving by 135 bps YoY, while PCR including AUCA improved by 171 bps YoY and stands at 91.91%.
Slippage Ratio for the fourth quarter was at 0.41%. Capital adequacy ratio (CAR) at the end of FY23 stood at 14.68%. Credit cost for for Q4FY23 at 0.16%, improved by 33 bps YoY. On the business front, the Bank posted credit growth of 16% at Rs 32.69 lakh crore as of March 2023, of which corporate loans grew 12% YoY and retail personal loans rose 18% YoY.
Deposits, meanwhile, jumped 9% year-on-year to 44.23 lakh crore at the end of March quarter. For the full fiscal year, SBI’s net profit crossed Rs 50,000 crore. The profit was Rs 50,232 crore in FY23, showing a growth of 58% year-on-year. NII for the full year rose 20% year-on-year and operating profit for FY23 was up 11% year-on-year at Rs 83,713 crore.
- On Thursday, SBI stock was trading 1.07% lower at Rs 580 apiece on NSE.
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What was the profit of SBI in 2013?
NEW DELHI: Country’s largest bank SBI today reported 8 per cent decline in net profit at Rs 3,041 crore for the fourth quarter ended March 31, 2014 on account of higher provisioning against bad loans. State Bank of India had a net profit of Rs 3,299 crore on standalone basis in the January-March quarter of the previous fiscal.
The bank’s total income rose to Rs 42,443 crore in Q4, 2013-14, from Rs 36,331 crore in the year ago period, SBI said in a statement. At the same time, the net interest income of the bank rose by 16.4 per cent to Rs 12,903 crore, from Rs 11,591 crore in the fourth quarter of the last fiscal. Provisions against bad loans increased significantly in Q4 to Rs 5,884 crore from Rs 3,974 crore in the year-ago period.
The gross Non Performing Assets (NPAs) as a percentage of total loan rose to 4.95 per cent during the quarter, from 4.75 per cent in the year ago period. The net NPA also increased to 2.57 per cent as compared to 2.10 per cent in the March 31, 2013. The gross NPA, which represents portion of bad loans, stood at Rs 61,605 crore at the end of March, up from Rs 51,189 crore in the year ago period.
For full fiscal (2013-14), the bank reported a 23 per cent decline in net profit at Rs 10,891 crore compared to Rs 14,105 crore in the previous fiscal. The total income of the bank rose to Rs 1,36,351 crore, from Rs 1,19,655 crore in 2012-13. It declared a final dividend of Rs 30 per shares or 300 per cent for 2013-14.
The SBI scrip was down 2.79 per cent at Rs 2,582 in the afternoon trade on the BSE, (What’s moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets, Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds,) Download The Economic Times News App to get Daily Market Updates & Live Business News.
SBI Share price target table –
|Year||SBI First Target Price||SBI Second Target Price|
Source: Bazar Update
Does SBI give dividends?
State Bank of India Dividend related ratios: Current Dividend Yield: 1.83% Annual dividend payment: ₹11.30.
What is the highest ever profit of SBI?
The country’s largest lender State Bank of India on Thursday reported the highest ever yearly profit of Rs 50,232 crore for the fiscal ended March 2023, registering a year-on-year growth of 58.58% on the back of robust jump in interest income. For the January-March 2023 quarter, the company’s profit surged by 83% year-on-year to Rs 16,694 crore.
Both quarterly and yearly profit numbers are the highest ever posted in the bank’s history. Read | SC refuses SBI’s plea on judgement on defaulters’ accounts The bank’s net interest income (NII), the difference between interest earned and spent, surged by 29% to Rs 40,393 crore for the fourth quarter of 2022-23 as compared to Rs 31,198 crore recorded in the corresponding period of the previous year.
For the full year 2022-23, the company’s net interest income rose by 19.99%. Net interest margin (NIM) of SBI for the year 2022-23 increased by 22 basis points to 3.58%. Domestic NIM for the fourth quarter of 2022-23 increased by 44 basis points year-on-year to 3.84%.
The government-run bank recorded significant improvement in asset quality. SBI’s gross non-performing assets declined to Rs 90,027 crore in 2022-23 from Rs 1.12 lakh crore in the previous year. The bank’s gross non-performing assets ratio declined from 3.97% in Q4 of 2021-22 to 2.78% in Q4 of 2022-23, the lowest in 10 years.
SBI’s net non-performing assets ratio declined to 0.67% in the quarter ended March 2023 from 1.02% registered in the corresponding period of last year. The company’s board at its meeting held on Thursday approved a dividend of Rs 11.30 per equity share (1130%) for the financial year ended March 2023.
State Bank of India has split the face value 1 time since Nov.20, 2014. State Bank of India had last split the face value of its shares from Rs 10 to Rs 1 in 2016.
What is the highest quarterly profit of SBI?
Home » Banking Current Affairs 2023 » SBI Records Highest-Ever Quarterly Profit in. The State Bank of India (SBI), the country’s largest public-sector lender, has reported impressive financial results for the fourth quarter ended March 31, 2023. The bank’s net profit witnessed a significant surge of 83 percent, reaching a record high of Rs 16,694 crore. Buy Prime Test Series for all Banking, SSC, Insurance & other exams
Is SBI good for long term?
SBIN is one of our preferred picks in the sector.’ As SBI share price is expected to go up to ₹725 apiece levels in long term, one can expect to get up to 40 per cent return if it buys the stock at current levels of ₹525 apiece and keeps on accumulating on every big dip.
What is the target of SBI in 2030?
State Bank of India Share Price Target 2050 – Minimum Share Price will be ₹4119.361 and maximum share price will be ₹4238.272. SBI Share price target will be ₹4178.816 for the year 2050.
|YEAR||State Bank of India Share Price Target|
|2050||₹4119.361 to ₹4238.272|
What is the target of SBI long term?
State Bank of India has an average target of 737.58. The consensus estimate represents an upside of 20.17% from the last price of 613.80. Reco – This broker has downgraded this stock from it’s previous report. Target – Broker has maintained previous recommendation but reduced share price target.
State Bank of India has not announced any bonus since Jan 1, 2000. Is State Bank of India worth buying?
Who pays best dividends in India?
List of Top Highest Dividend Paying Stocks In India 2023
|Company||Dividend %||Dividend (INR)|
|Hindustan Zinc Ltd.||1300||26|
|Hinduja Global Solutions Ltd.||25||2.5|
What is the highest dividend of SBI?
This is the highest dividend the State Bank of India has given in any financial year. The country’s largest public sector bank, State Bank of India (SBI), has given the government a cheque of Rs 5,740 crore as its dividend income for the financial year 2022-23.
Which bank is rich in India?
HDFC Bank (9.27 lakh crore) – It is one of the largest banks in India in terms of assets and market capitalisation.
Listings and shareholding – As on 31 March 2017, Government of India held around 61.23% equity shares in SBI. The Life Insurance Corporation of India, itself state-owned, is the largest non-promoter shareholder in the company with 8.82% shareholding.
|Promoters: Government of India||56.92%|
|Banks & Insurance Companies||10.63%|
|Mutual Funds & UTI||13.72%|
The equity shares of SBI are listed on the Bombay Stock Exchange, where it is a constituent of the BSE SENSEX index, and the National Stock Exchange of India, where it is a constituent of the CNX Nifty, Its Global Depository Receipts (GDRs) are listed on the London Stock Exchange,
What is the richest bank?
The largest bank in the world in terms of total assets under management (AUM) as well as gross revenues is the Industrial and Commercial Bank Of China Ltd.
Is SBI going to merge?
Mumbai: The government on Thursday said that 1 April will be the record date for the merger of State Bank of India (SBI) with five of its associate banks. The associate banks are State Bank of Bikaner and Jaipur (SBBJ), State Bank of Mysore (SBM), State Bank of Travancore (SBT), State Bank of Hyderabad (SBH) and State Bank of Patiala (SBP).
In a gazette notification dated 22 February and released on Thursday, the government said that all shares of these associate banks would cease to exist as individual entities and would stand transferred to SBI. ALSO READ | SBI merger: Five things to watch out for After the merger, SBI is set to be among the top 50 large banks of the world.
SBI was ranked 52 in the world in terms of assets in 2015, according to Bloomberg, and a merger will see it break into the top 50. In the case of SBP and SBH, which are not listed on the stock exchanges, the notification said that the entire share capital would, without any further act, deed or instrument, stand cancelled.
Also, the share certificates representing such shares would also, without any further act, deed or instrument, be deemed to be automatically extinguished. In case of the other three associate banks, the notification states that the shares would be delisted on 1 April. The shares would be converted to those of SBI, according to the swap ratio approved by the bank’s board and the government.
According to the ratio approved by the board of SBI in August 2016, investors in SBBJ holding 10 shares will get 28 shares of SBI. And, investors in SBM and SBT holding 10 shares will get 22 SBI shares each. View Full Image SBI chairman Arundhati Bhattacharya. Photo: The whole-time directors, including the managing directors of all five associate banks, will cease to hold office and their respective boards will stand dissolved. “The next course of action is to enact the swap of shares for all the shareholders of the associate banks.
The time period required for that is 30 days, so we will focus on that. After the audit of all banks is completed on 31 March, we will begin the granular merging of each bank. That should take about six weeks, since we will only be able to do it on weekends. By end of May we should have merged at a granular level.
In about a month or two after that, we will also complete the rebranding of all branches,” said Arundhati Bhattacharya, chairman of SBI. In an interaction with reporters on 16 February, she had said that the consolidated balance sheet of the merged entity would be Rs32 trillion.
The merged entity would have deposits worth Rs26 trillion and nearly Rs18.76 trillion worth advances on its books. The bank would have 23,899 branches and an employee strength of 271,765, according to a report by PTI. Bhattacharya had clarified that employees of the associate banks would be offered adequate wages in the merged entity.
ALSO READ | Cabinet approves SBI merger with five associate banks “At this point, there are no wage-related issues. The finance minister also asserted that the wages that people receive now will be protected,” she said, adding, “The employees of the associate banks will be offered the wage package that our people have for the relevant grades.
It’s up to them to either accept that or retain the package they have now. They have a choice to do that.” The whole process of merging SBI and its subsidiaries has faced resistance from employee unions fearful of job losses. At least two associate banks, SBT and SBM, posted a loss for the quarter ended 31 December 2016.
These associate banks have also seen their asset quality worsen over the last year after the Reserve Bank of India followed up an asset quality review in October-December 2015 by ordering banks to set aside money against previously unrecognized stressed assets. Catch all the Industry News, Banking News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates, More Less Updated: 24 Feb 2017, 03:17 AM IST
Multibagger stock in making? Four factors why SBI shares can touch Rs 750 in a year Shares of (SBI) are expected to touch the Rs 750 mark in a year, according to estimates by brokerage KRChoksey. The stock of the country’s largest bank has already gained 229% in three years and risen 29% in a year.
- However, the SBI stock is down 7.14% in 2023.
- In the current session, SBI shares were trading marginally higher at Rs 570.30 on the BSE.
- Market cap of the bank stood at Rs 5.08 lakh crore on BSE.
- Total 1.14 lakh shares changed hands amounting to a turnover of Rs 6.49 crore on BSE.
- The SBI stock hit a 52 week high of Rs 629.65 on December 15, 2022 and a 52 week low of Rs 430.80 on June 20, 2022.
Till date, the stock has gained 32.5% from its 52-week low. In terms of technicals, the relative strength index (RSI) of SBI stands at 39.8, signaling it’s trading neither in the overbought nor in the oversold zone. SBI stock has a one-year beta of 1.2, indicating very high volatility during the period.
- SBI shares are trading higher than the 50 day, 100 day and 200 day moving averages but lower than 5 day and 20 day moving averages.
- Here’s a look at four factors which KR Choksey mentioned while assigning a buy call with a target price of Rs 750 on SBI.1.) The lender has a diversified range of products and services through its various branches and outlets, joint ventures, subsidiaries and associate companies.
The bank serves as a benchmark for the Indian economy because it is the market leader in the Indian banking industry, said the brokerage.2. The bank is well-capitalized to handle any additional risk on its portfolio due to uncertainty. SBI’s asset quality has steadily improved over the years.
- The fall in slippages has been sharp for the bank, owing to strong recoveries and upgrades.
- We expect the slippages to remain moderate in the upcoming quarters.3.
- The bank’s largest segment is retail and digital banking in terms of the loan portfolio.
- The bank expects there tail lending segment to be strong, aided by robust growth in the Xpress credit segment.4.
SBI has positioned itself as one of the best-in-class players in the liability franchise market. With strong brand equity and abroad presence in India through its branches,the bank has a robust customer base for its deposits. SBI will continue to aim at increasing the CASA ratio with an improved focus on the current account growth and, simultaneously, maintain its leadership position in the savings and overall deposits.
- Last week, State Bank of India said it will raise up to Rs 50,000 crore by issuance of debt instruments to Indian and overseas investors in the current financial year.
- SBI said that the central board has accorded approval for raising funds in INR and / or any other convertible currency by issue of debt instruments including but not limited to Long Term Bonds, Basel III compliant Additional Tier 1 Bonds, Basel III compliant Tier 2 Bonds, up to an amount of Rs 50,000 crore (Rupees Fifty Thousand Crores only) through private placement mode to Indian and/or Overseas investors during FY24.
SBI reported a sharp year-on-year (YoY) rise in its fourth-quarter profit during the financial year 2022-23 (FY23). Q4 profit surged 83.18 per cent to Rs 16,694.51 crore against Rs 9,113.53 crore in the same period a year ago. Sequentially, the lender recorded a 17.52 rise in its March 2023 quarter profit.
- The bank earned Rs 92,951.06 crore as interest income in Q4 FY23 against Rs 70,733.25 crore in the year-ago period.
- The lender also announced a dividend of Rs 11.30 per equity share.
- The bank’s Board has declared a dividend of Rs 11.30 per equity share (1,130%) for the financial year ended March 31, 2023.
Also read: Also read: Published on: Jun 16, 2023, 2:54 PM IST Posted by: Tarab Zaidi, Jun 16, 2023, 1:47 PM IST : Multibagger stock in making? Four factors why SBI shares can touch Rs 750 in a year
The Bottom Line – A stock split is used primarily by companies that have seen their share prices increase substantially. Although the number of outstanding shares increases and the price per share decreases, the market capitalization (and the value of the company) does not change.
Which is the operating profit?
Operating profit (definition) – Operating profit is the money left after paying all business costs, but before paying tax. An operating profit shows that your business can generate more money than it spends. However you still have taxes to pay before getting to net profit (which is the money you get to keep). Operating profit is the money you make before taxes When calculating operating profit, your accountant makes two extra adjustments that aren’t shown in this formula. They will:
lower your profit to account for the wear and tear on equipment; this is called depreciation and it’s done because you’ll eventually need to pay to replace that stuff increase your profit by removing interest payments from your costs
Interest payments are removed because operating profit is based only on things the business can control. A business doesn’t set its own interest rates, so they’re removed. For this reason, operating profit is also known as earnings before interest and tax (EBIT).
What is operating income of banks?
Operating income is generally defined as the amount of money left over to pay for financial costs such as interest or taxes.
How much is the operating profit?
Operating Profit = Revenue – Operating Expenses – Cost of Goods Sold – Other Day-to-Day Expenses (e.g., depreciation, amortization, etc.)
What is the profitability analysis of SBI?
Profitability Ratios – Return on Equity (ROE): The return on equity (ROE) ratio for the bank improved and stood at 11.6% during FY22, from 8.1% during FY21. The ROE measures the ability of a firm to generate profits from its shareholders capital in the company.
- Return on Assets (ROA): The return on asset (ROA) ratio of the bank improved and stood at 0.66% during FY22, from 0.46% during FY21.
- The ROA measures how efficiently the company uses its assets to generate earnings.
- Return on Capital Employed (ROCE): The ROCE for the bank improved and stood at 8.77% during FY22, from 7.08% during FY21.
The ROCE measures the ability of a bank to generate profits from its total capital (shareholder capital plus debt capital) employed in the bank.