Financial Daily from THE HINDU group of publications
Saturday, May 20, 2006
Financial Daily from THE HINDU group of publications Saturday, May 20, 2006 |
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Financial Performance Corporate Results - Public Sector Banks Money & Banking - Financial Performance SBI net rises marginally in 2005-06 at Rs 4,407 cr Our Bureau
Meagre growth Staff cost moved up by 17.6 pc due to payment of arrears as a sequel to wage revision. Within the retail segment, housing advances grew by Rs 6,845 crore.
Kolkata , May 19 Despite a meagre net profit growth of 2.37 per cent at Rs 4,407 crore in 2005-06, the board of directors of State Bank of India at a meeting here on Friday recommended a higher dividend of 140 per cent (Rs 14 per share). In 2004-05, 125 per cent (Rs 12.5 per share) dividend was declared on a net profit growth of nearly 17 per cent at Rs 4,304 crore. The operating profit during the period at Rs 11,299.23 crore (Rs 10,990.36 crore) showed a growth of 2.81 per cent (15.04 per cent). The operating profit excluding profit on sale of investments at Rs 10,712 crore (Rs 9,215 crore) showed a growth of 16.25 per cent. The profit on sale of investments was lower at Rs 587.17 crore (Rs 1,775.30 crore), registering a decline of Rs 66.93 crore due to rising interest rate scenario. Operating expenses increased by 16.39 per cent. The staff cost alone increased by 17.6 per cent due to payment of arrears as a sequel to wage revision. Total deposits at the end of March 2006 amounted to Rs 3,80,046 crore, registering a growth of Rs 12,998 crore (3.54 per cent) due to repayment of IMDs amounting to Rs 25,629 crore in December 2005. Gross advances grew to Rs 2,67,131 crore (Rs 2,09,742 crore). During 2005-06, retail advances, constituting more than 25 per cent of the bank's gross domestic advances, increased by 31.46 per cent and within the retail segment, housing loan accounted for 52.11 per cent of the total. Housing advances grew by Rs 6,845 crore to Rs 31,825 crore. Net interest income at Rs 15,635.64 crore (Rs 13,944.63 crore) showed a growth of 12.13 per cent. This was due to growth in interest income on advances by 35.67 per cent and lower cost of deposits. Non-interest income other than profit on sale of investments and dividend grew by 30.96 per cent to Rs 6,484.34 crore (Rs 4951.36 crore). Gross NPA ratio declined to 3.88 per cent (5.96 per cent) and net NPA to 1.87 per cent (2.65 per cent).
Associate banks
Total deposits of associate banks increased to Rs 1,61,381 crore (Rs 1,35,524 crore) or a growth of 19.08 per cent and total advances to Rs 1,09,878 crore (Rs 84,463 crore) or a growth of more than 32 per cent. The net profit increased to Rs 1549.81 crore (Rs 1371 crore), while operating profit declined to Rs 4030.67 crore (Rs 4,770 crore). Gross NPAs dropped to 2.62 per cent (3.74 per cent) and net NPAs to 1.05 per cent (1.23 per cent).
Related Stories: More Stories on : Financial Performance | Public Sector Banks | Financial Performance | State Bank of India
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