Conference Call with State Bank of India Management and Analysts on Q4FY24 Performance and Outlook. Listen to the full earnings transcript. Management in attendance: Dinesh Kumar Khara and senior team
State Bank of India announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Net Profit for Q4FY24 grew by 23.98% to Rs 20,698 crore. Operating Profit for Q4FY24 grew by 16.76% YoY to Rs 28,748 crore. ROA at 1.36% for Q4FY24 improved by 13 bps YoY. Whole Bank NIM for FY24 is marginally down by 9 bps YoY to 3.28%. Credit growth is at 15.24% YoY with Domestic Advances growing by 16.26% YoY. Corporate Advances and Agri Advances cross Rs 11 lakh crore and 3 lakh crore respectively. Foreign Offices’ Advances grew by 9.47% YoY. Domestic Advances growth driven by SME Advances (20.53% YoY) followed by Agri Advances which grew by 17.92% YoY. Retail Personal Advances and Corporate loans registered YoY growth of 14.68% and 16.17% respectively. FY24 Financial Highlights: Net Profit for FY24 stands at Rs 61,077 crore, witnessing a growth of 21.59% YoY after accounting for wage settlement and one-time exceptional item of Rs 7,100 crore. Operating Profit for FY24 grew by 12.05% YoY to Rs 93,797 crore. Bank’s ROA for FY24 stands at 1.04%. Net Interest Income (NII) for FY24 increased by 10.38% YoY. Whole Bank Deposits grew at 11.13% YoY, out of which CASA Deposit grew by 4.25% YoY. CASA ratio stands at 41.11% as on 31st March 24. Slippage Ratio for FY24 improved by 3 bps YoY and stands at 0.62%. Credit Cost for FY24 improved by 3 bps YoY and stands at 0.29%. Capital Adequacy Ratio (CAR) as at the end of FY24 stands at 14.28%. Share of Alternate Channels in total transactions increased from ~96.9% in FY23 to ~97.8% in FY24. Result PDF