HDFC Life Insurance Q1 Results Highlights: Net Profit Iumps 15% on-year to ₹479 cr
State Bank of India Q1 Results FY2023, PAT at Rs. 6068 crores
Last Updated: 14th December 2022 - 12:01 am
On 5th August 2022, State Bank of India announced its quarterly results for the first quarter of FY2023
Q1FY23 Key Highlights:
- Operating Profit for Q1FY23 stood at Rs. 12,753 crores as against Rs. 18,975 crores in Q1FY22, impacted by MTM Losses on investment book.
-Net Profit for Q1FY23 was reported at Rs. 6,068 crores as against Rs. 6,504 crores in Q1FY22
- Net Interest Income (NII) for Q1FY23 increased by 12.87% YoY.
- Domestic NIM for Q1FY23 increased by 8 bps YoY to 3.23%
- Bank’s Balance Sheet size crosses Rs. 50 lakh crores.
Business Highlights:
- Credit growth stood at 14.93% YoY. Domestic Advances grew at 13.66% YoY and Foreign Offices’ Advances grew by 22.39% YoY.
- Domestic Advances growth was driven by Retail Personal Advances (18.58% YoY), out of which Home Loan grew by 13.77% YoY.
-Corporate Loan book grew by 10.57%; SME and Agri loans have also registered YoY growth of 10.01% and 9.82% respectively.
- Whole Bank Deposits grew at 8.73% YoY, out of which CASA Deposit grew by 6.54% YoY. CASA ratio stands at 45.33% as on 30th June 22.
- Gross NPA ratio is down by 141 bps YoY at 3.91%, while the Net NPA ratio is down by 77 bps YoY at 1.00%.
- Provision Coverage Ratio (PCR) improved by 719 bps YoY at 75.05%. PCR (Incl. AUCA) stands at 90.14%.
- Slippage Ratio for Q1FY23 stands at 1.38%; improved by 109 bps YoY.
- Credit Cost for Q1FY23 stands at 0.61%; improved by 18 bps YoY
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Tanushree Jaiswal
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