State Bank of India (SBI) on Thursday posted fiscal fourth quarter profit at Rs 18,343.25 crore, up 83.5 per cent in comparison to Rs 9,993.76 crore in the same quarter last year, beating estimates. According to a CNBC TV18 poll, SBI was expected to post Q4FY23 profit at Rs 15,053.1 crore and NII at Rs 39,406.4 crore. It posted a total income of Rs 1,36,852.39 crore during the fourth quarter, up 26.7 per cent from Rs 1,08,034.68 crore in the fourth quarter of FY22.
The Board also declared a dividend of Rs 11.30 per equity share (1130 per cent) for the financial year ended March 2023. “The date of payment of dividend is fixed on 14th June, 2023 and the dividend warrants will be dispatched before the date of payment, which will be payable, in India, at par at all branches of State Bank of India, irrespective of the amount,” it said in a regulatory filing.
SBI provisions stood at Rs 3,794.53 crore in the fourth quarter of financial year 2023, down 53.2 per cent on-year. In terms of asset quality, SBI’s gross NPA was at Rs 90,927. 78 crore and the net NPA was at Rs 21,466.64 crore in Q4FY23. The gross NPA ratio improved to 0.67 per cent in the March quarter. However, the net NPA ratio was higher at 1.23 per cent in the fourth quarter. It was 1.08 per cent in the third quarter and 0.74% in the year-ago quarter. SBI net interest income (NII) came in at Rs 40,392.50 crore, up 29.5 per cent from Rs 31,197 crore in the fourth quarter of FY22.
In terms of segments, SBI’s treasury operations posted revenue of Rs 28,104.98 crore, its corporate or wholesale banking operations revenue stood at Rs 30,189.65 crore, the retail banking operations recorded revenue at Rs 48,279.43 crore and its insurance business clocked revenue of Rs 25,573.71 crore in the fourth quarter ended March 2023.