State Bank of India · NSE:SBIN
State Bank of India — FY2012 Earnings Presentation
55 slides from State Bank of India's earnings presentation, May 2012
Slide 1: Annual Results FY 2011-12
THE BANKER TO EVERY INDIAN Annual Results FY 2011-12
Slide 2: Healthy Growth in NII and Operating Profit - a Snapshot (1/2)
Healthy Growth in NII and Operating Profit - a Snapshot (1/2) Rs. In Crores YOY YOY Q4 FY11 Q4 FY12 FY11 FY12 Gr.% Gr.% Interest Income 21721 28583 31.59 81394 106521 30.87 Interest Expenses 13663 16992 24.36 48868 63230 29.39 Net Interest Income 8058 11591 43.84 32526 43291 33.10 Other Income 4815
Slide 3: Net Profit up by 42% - a Snapshot (2/2)
Net Profit up by 42% - a Snapshot (2/2) Rs. In Crores YOY YOY Q4 FY11 Q4 FY12 FY11 FY12 Gr.% Gr.% Operating Profit 6080 9597 57.85 25336 31574 24.62 Total Provisions 6059 5547 (8.46) 17071 19866 16.37 Income Tax 1902 2406 26.51 6690 6776 1.29 Loan Loss 3264 2837 (13.08) 8792 11546 31.32 Investment 3
Slide 4: Components of Interest Income
Components of Interest Income Rs. In Crores YOY YOY Q4 FY11 Q4 FY12 FY11 FY12 Gr.% Gr.% Interest on Loans 16257 22141 36.20 59976 81078 35.18 Interest on Resources 5305 6307 18.88 20062 24300 21.12 Other Sundry Interest 160 135 (15.49) 1356 1144 (15.64) Total Interest Income 21721 28583 31.59 81394
Slide 5: Components of Interest Expenses
Components of Interest Expenses Rs. In Crores YOY YOY Q4 FY11 Q4 FY12 FY11 FY12 Gr.% Gr.% Interest on Deposits 11943 14822 24.10 43235 55644 28.70 Interest on Borrowings 907 1190 31.25 2562 3886 51.68 Other Sundry Interest 814 980 20.45 3071 3700 20.48 Total Interest 13663 16992 24.36 48868 63230 29
Slide 6: Components of Other Income
Components of Other Income Rs. In Crores YOY YOY Q4 FY11 Q4 FY12 FY11 FY12 Gr.% Gr.% Fee Income 3731 4216 13.00 11563 12091 4.56 Profit/loss on Sale of 335 (26) (107.87) 921 (920) (199.86) Investments Of which; 309 (42) 811 (797) Domestic-Equity & MF Domestic-Bonds 17 29 43 (150) Foreign Operations
Slide 7: Components of Fee Income
Components of Fee Income Rs. In Crores YOY YOY Q4 FY11 Q4 FY12 FY11 FY12 Gr.% Gr.% Loan Processing Charges 1052 1176 11.76 3103 2748 (11.43) Commission on Govt. Busi. 487 674 38.34 1847 2132 15.42 Commission on LCs Issued 307 348 13.28 1139 1337 17.42 Commission on BGs Issued 422 385 (8.82) 1277 131
Slide 8: Growth in Operating Expenses Contained
Growth in Operating Expenses Contained Rs. In Crores YOY YOY Q4 FY11 Q4 FY12 FY11 FY12 Gr.% Gr.% Salary 3561 3696 3.79 11182 13503 20.76 Provision for 4030* 3471 (13.88) superannuation benefits 901 1053 16.97 Of which : Pension 876 761 (13.10) 2473 2691 9.16 25 292 1068.00 1565 780 (50.19) Gratuity
Slide 9: Components of Overheads
Components of Overheads Rs. In Crores YOY YOY Q4 FY11 Q4 FY12 FY11 FY12 Gr.% Gr.% Rent & Taxes , Lighting 503 575 14.30 1794 2065 15.10 Depreciation 331 300 (9.35) 990 1007 1.68 DICGC Insurance 186 194 4.79 717 814 13.51 P&T, Courier, Telex & 103 114 11.09 363 433 19.24 Stamps, Telephone Travelling
Slide 10: Profitability : Domestic & Foreign Offices (1/4)
Profitability : Domestic & Foreign Offices (1/4) Indian Offices Foreign Offices Rs. In Crores YOY YOY Q4 FY11 Q4 FY12 Q4 FY11 Q4 FY12 Gr.% Gr.% Interest Income 20642 27112 31.34 1079 1471 36.34 Interest Expenses 13020 16167 24.17 643 825 28.21 Net Interest Income 7622 10944 43.59 436 647 48.33 Other
Slide 11: Operating Profit :Domestic & Foreign Offices (2/4)
Operating Profit :Domestic & Foreign Offices (2/4) Indian Offices Foreign Offices Rs. In Crores YOY YOY Q4 FY11 Q4 FY12 Q4 FY11 Q4 FY12 Gr.% Gr.% Operating Profit 5593 8585 53.50 487 1012 107.76 Total Provisions 5796 5349 (7.72) 263 198 (24.78) Income Tax 1862 2230 19.79 40 176 335.92 Loan Loss 3070
Slide 12: Profitability : Domestic & Foreign Offices (3/4)
Profitability : Domestic & Foreign Offices (3/4) Indian Offices Foreign Offices Rs. In Crores YOY YOY FY11 FY12 FY11 FY12 Gr.% Gr.% Interest Income 77247 101243 31.06 4147 5278 27.27 Interest Expenses 46503 60356 29.79 2365 2874 21.52 Net Interest Income 30744 40887 32.99 1782 2404 34.90 Other Incom
Slide 13: Operating Profit :Domestic & Foreign Offices (4/4)
Operating Profit :Domestic & Foreign Offices (4/4) Indian Offices Foreign Offices Rs. In Crores YOY YOY FY11 FY12 FY11 FY12 Gr.% Gr.% Operating Profit 22818 28561 25.17 2518 3013 19.63 Total Provisions 16086 18930 17.68 985 936 (4.93) Income Tax 6244 6172 (1.15) 446 604 35.40 Loan Loss 8321 11268 35
Slide 14: Efficiency Ratios: Domestic & Foreign Offices (1/3)
Efficiency Ratios: Domestic & Foreign Offices (1/3) Rs. In Crores Indian Offices Foreign Offices Whole Bank Change Change Change Q4 FY11 Q4 FY12 Q4 FY11 Q4 FY12 Q4 FY11 Q4 FY12 (bps) (bps) (bps) ROA* (%) (0.07) 1.05 112 0.63 1.83 120 0.01 1.15 114 20.11 19.87 RONW* (%) (1.53) (22.91)# 2444 8.07 18.9
Slide 15: Efficiency Ratios: Domestic & Foreign Offices (2/3)
Efficiency Ratios: Domestic & Foreign Offices (2/3) Rs. In Crores Indian Offices Foreign Offices Whole Bank Change Change Change FY11 FY12 FY11 FY12 FY11 FY12 (bps) (bps) (bps) ROA (%) 0.66 0.82 16 1.09 1.36 27 0.71 0.88 17 14.97 14.36 RONW (%) 12.64 (17.05)# 441 13.78 12.09 (169) 12.84 (15.89)# 305
Slide 16: Efficiency Ratios – (3/3)
Efficiency Ratios – (3/3) ( in % ) Change Change Mar 11 Mar 12 (bps) Mar 11 Mar 12 (bps) Cost to 47.60 45.23 (237) Gross NPA 3.28 4.44 116 Income Operating Net NPA 1.63 1.82 19 39.36 43.02 366 Profit to NW EPS (in Rs) 130.15 184.31 41.61% Tier I 7.77 9.79 202 Book Value Per Share 1014 1215 19.82% Ti
Slide 17: Quarterly Movement in Income Parameters
Quarterly Movement in Income Parameters Rs. In crores 14000 (Sequential Growth %) (10) (1 ) 12000 11519 11591 Net Intt. Income (8) (20) 10482 (12) 9700 9597 10000 Operating Profit (11) 9050 (-11) 8115 8058 (32) (9) 8000 7304 7242 7474 7260 6764 6134 6357 (3) 6080 (19) (-3) 6000 (6) (18) (4) (-10) 40
Slide 18: Steady Increase in Net Interest Margin
Steady Increase in Net Interest Margin ( in % ) Cumulative NIM – Whole Bank 3.82 3.85 3.84 3.85 3.79 3.70 3.72 3.62 3.59 3.55 3.32 2.66 Mar 10 Mar 11 Jun 11 Jul 11 Aug 11 Sep 11 Oct 11 Nov 11 Dec 11 Jan 12 Feb 12 Mar 12 NIM Mar10 Mar 11 Jun 11 Jul 11 Aug11 Sep11 Oct 11 Nov11 Dec11 Jan 12 Feb12 Mar 1
Slide 19: Domestic : Costs & Yields
Domestic : Costs & Yields ( in % ) Yield on Advances /Yield on Assets Cost of Deposits Yield on Advances 10.93 11.05 5.90 5.95 10.78 5.83 5.66 10.43 5.26 9.56 Mar-11 Jun-11 Sep-11 Dec 11 Mar 12 Mar-11 Jun-11 Sep-11 Dec 11 Mar 12 Yield on Investments Cost of Funds Yield on Assets 6.10 6.15 9.98 9.87
Slide 20: Corporate Citizen
Corporate Citizen Rs. In crores 1924 1864 Income Tax Paid 1650 FY 11: 6160 1730 1503 1104 1650 FY12: 6134 869 Q1 Q2 Q3 Q4 Total Tax Paid 7329 7422 7647 Other Taxes 751 1262 1513 6578 6160 6134 Income Tax Mar 10 Mar 11 Mar-12 20
Slide 21: Revenue & Expenditure
Revenue & Expenditure ( in % ) RUPEE EARNED RUPEE SPENT 2.9 P/L on Sale of Inv. 0.7 1.5 Forex Income 1.2 8.5 Transfer to Res. 9.7 Fee Income 10.0 11.9 0.9 10.7 Other Provisions 10.8 1.4 Sundry Intt 6.9 Income Tax 5.6 20.1 20.6 7.7 Overheads 7.5 Int. on Res. Ops. 15.9 Staff Expenses 14.0 5.8 Interest
Slide 22: Retail Deposits drive Growth
Retail Deposits drive Growth Rs. In Crores YOY Gr Mar 11 Mar 12 Amt YOY Gr.% Whole Bank Deposits 910674* 1043647 132974 14.60 Domestic Deposits 863893* 982214 118321 13.70 Deposits at FOs 46781 61433 14652 31.32 Term Deposits 433440* 524094 90654 20.92 Of which: Retail TDs 334270 412285 78015 23.34
Slide 23: Customer Acquisition Growth Accelerated
Customer Acquisition Growth Accelerated Number of Accounts (in lacs) Saving Bank YOY 16.7% Current Account YOY 6.0% 18.7% CAGR 7.0% CAGR 1539.6 1320.7 26.1 1092.7 24.6 22.8 Mar 10 Mar 11 Mar 12 Mar 10 Mar 11 Mar 12 219 lac new accounts in FY12 1.5 lac new accounts in FY12 23
Slide 24: Diversified Exposure across Sectors
Diversified Exposure across Sectors Rs. In Crores ( Share %) 26715 3 Misc 17059 135724 15 2 109358 FOs 14 182427 20 Retail 21 164576 116910 13 94826 Agri 12 139175 16 119676 SME 16 157566 MCG 167639 19 21 14 108741 CAG 125023 14 Mar 11 Mar 12 Total 771802 893613 24
Slide 25: Composition of Advances Growth (1/2)
Composition of Advances Growth (1/2) Growth Rs. In crores YOY Whole Bank Domestic 14.4% 15.8% 757889 893613 662444 771802 Mar 11 Mar 12 Mar 11 Mar 12 International Agri 24.1% 23.3% 135724 116910 109358 94826 Mar 11 Mar 12 Mar 11 Mar 12 Growth in $ terms is 8.8% 25
Slide 26: Composition of Advances Growth (2/2)
Composition of Advances Growth (2/2) Growth Rs. In crores YOY Large Corporate Mid Corporate 6.4% 15.0% 125023 157566 167639 108741 Mar 11 Mar 12 Mar 11 Mar 12 SME 16.3% Retail 10.9% 139175 182427 119676 164576 Mar 11 Mar 12 Mar 11 Mar 12 26
Slide 27: Diversified Exposure across Industries
Diversified Exposure across Industries Rs. In crores Mar 10 Mar 11 Mar 12 Product / Segment YOY Gr YOY Gr Level Level % Share * Level % Share * % % Total Infrastructure 41432 70587 70.37 9.15 76503 8.38 8.56 Iron and Steel 24386 32622 33.77 4.23 44428 36.19 4.97 Textiles 24732 32221 30.28 4.17 34978
Slide 28: Infrastructure Credit
Infrastructure Credit Rs. In crores Share % Other 9350 12 14 9521 15508 20 18 12726 Road & Ports 14590 19 25 17643 Telecom 37055 30697 Power 49 43 Mar 11 Mar 12 Total Infra 70587 76503 Infrastructure Power Telecom Road & Ports Other Total Infra YOY % 20.71 (17.30) 21.86 (1.80) 8.38 28
Slide 29: Market Leader in Retail Advances
Market Leader in Retail Advances Rs. In crores Break-up of Retail Above 18659 12696 Other Per. Rs.30 lacs 27% Home 77217 84080 56% Upto Education 7% Rs.30 lacs Auto 10% Mar 11 Mar 12 Total 89913 102739 Level Home Auto Edu Other Per. Total Mar 11 89913 15136 11101 48426 164576 Mar 12 102739 18305 125
Slide 30: Agri Advances
Agri Advances Share % Across Sectors Break-up of Direct Agri Farm Mech Other 9% Irrig. & Direct Land Devp. 18% 4% CAG MCG SME SHGs 14% 19% 16% 7% AGL Misc 13% 3% INTL RETAIL 15% 20% Crop 62% Agri Advances (Direct and Indirect) are 17.60% of ANBC Level Crop /Production Loans Investment/Allied Credit
Slide 31: CD Ratio & Market Share
CD Ratio & Market Share ( in % ) CD RATIO 78.5 78.5 76.3 76.7 SBI 75.8 78.1 76.3 75.7 75.2 74.9 ASCB 72.2 74.0 Mar 10 Mar 11 Jun 11 Sep 11 Dec 11 Mar 12 DEPOSITS ADVANCES 16.6 16.4 16.4 16.5 16.4 16.3 16.3 16.3 16.3 16.3 16.1 16.2 Mar 10 Mar 11 Jun 11 Sep 11 Dec 11 Mar-12 Mar 10 Mar 11 Jun 11 Sep 11
Slide 32: Balance Sheet Size
Balance Sheet Size Rs. In crores LIABILITIES March 11 Mar 12 YOY Growth (%) Capital 635 671 5.68 Reserves and Surpluses 64351 83280 29.42 Deposits 910674 1043647 14.60 Borrowings 119569 127006 6.22 Other Liabilities & Provisions 128507 80915 (37.03) Total Liabilities 1223736 1335519 9.13 Deposits: 7
Slide 33: Contribution of Resources - % Share
Contribution of Resources - % Share ( in % ) Other liabilities 3.5 Sub. Debt. Bonds 2.6 5.8 Cap & Res 6.3 2.8 Borrowings 9.5 5.3 9.8 Deposits 78.2 76.3 Mar 11 Mar 12 Total 1223736 1335519 33
Slide 34: Capital Adequacy
Capital Adequacy CAR 13.39% 11.98% 13.86% Tier II 3.94% 4.07% 4.21% Tier I 9.45% 9.79% 7.77% Mar-10 Mar-11 Mar-12 34
Slide 35: Asset Quality
Asset Quality Rs. In crores / (%) Sequentially Gross NPA Ratio is down by 17 bps and Net NPA Ratio by 40 bps. 18803 15819 2.22% 1.82% 16120 2.04% NPA 12347 12435 1.63% 1.61% Net 10870 1.72% 40098 39676 33946 4.61% 4.44% Gross 19535 25326 27768 4.19% 3.28% 3.52% 3.05% Mar 10 Mar 11 Jun 11 Sep 11 Dec
Slide 36: Movement of Net NPAs
Movement of Net NPAs ( in % ) 2.22 2.04 1.82 1.72 1.63 1.61 Mar-10 Mar 11 Jun 11 Sep 11 Dec 11 Mar 12 Net NPAs as on Mar-10 Mar-11 Mar-12 Levels 10870 12347 15819
Slide 37: Movement of NPAs (1/2)
Movement of NPAs (1/2) Rs. In Crores FY11 Q1FY12 Q2FY12 Q3FY12 Q4FY12 FY12 Opening Level of 19535 25326 27768 33946 40098 25326 Gross NPAs Cash Recovery 3848 1199 736 1026 1603 4564 Up gradation 4499 1877 1036 942 3118 6973 Write off 4007 604 320 41 84 1049 Fresh Slippages 18145 6122 8270 8161 4383
Slide 38: NPAs by Sector
NPAs by Sector Rs. In crores Break-up of NPAs Sector NPAs to Total NPAs (%) Mar 11 Mar 12 Sector % of % of Amt. Amt. 1.4 Large Corp 1.3 NPAs NPAs 6.4 8.9 Intl. Large Retail 10.6 353 0.32 515 0.41 17.2 Corporate Mid 19.6 6005 3.51 12747 7.21 Agri. Corporate 17.9 SME 7833 5.34 11929 6.36 30.1 SME 30.9
Slide 39: Sector-wise Movement of NPAs – Q4FY12 (1/2)
Sector-wise Movement of NPAs – Q4FY12 (1/2) Rs. In crores Particulars Corp SME Agri Retail Intl. Total Cash 395 378 219 485 126 1603 Recovery Up-gradation 1809 278 74 721 236 3118 Write off 0 0 1 3 80 84 Gross 2204 656 294 1209 442 4805 Reduction Fresh 2417 1072 462 416 16 4383 Slippages Net Increas
Slide 40: Sector-wise Movement of NPAs – FY12 (2/2)
Sector-wise Movement of NPAs – FY12 (2/2) Rs. In crores Particulars Corp SME Agri Retail Intl. Total Cash 1216 1161 747 1071 369 4564 Recovery Up-gradation 2610 1385 928 1686 364 6973 Write off 6 491 109 320 123 1049 Gross 3832 3037 1784 3077 856 12586 Reduction Fresh 10737 7132 5038 2906 1123 26936
Slide 41: NPA Position - Major Industries
NPA Position - Major Industries Rs. In crores Fresh Slippages during Total NPAs as on Industry Share % Q1FY12 Q2FY12 Q3FY12 Q4FY12 FY12 31.03.12 Iron and Steel 371 347 667 419 1804 2482 9.85 Textiles 411 289 462 814 1976 1962 7.79 Engineering 89 89 118 112 408 1674 6.65 Agro Based 145 1268 225 114 1
Slide 42: Details of Standard Assets Restructured (1/4)
Details of Standard Assets Restructured (1/4) Rs. In crores Accounts Restructured As on During Total As on Mar 11 Q1FY12 Q2FY12 Q3FY12 Q4FY12 FY12 Mar 12 Under RBI's 18395 0 0 0 0 0 18395 Scheme Under Bank’s 15954 564 509 2188 5134 8395 24349 Scheme Total 34349 564 509 2188 5134 8395 42744 Slippages
Slide 43: Details of Standard Assets Restructured (2/4)
Details of Standard Assets Restructured (2/4) Rs. In Crores Outstanding as on 31.03.2012 Year of Grand Total Standard Category NPA Category Restructuring No. of No. of No. of A/Cs Amount Amount Amount A/Cs A/Cs Upto Mar 08 361 1234 248 1104 113 130 2008-09 2446 5466 2147 4899 299 567 2009-10 1373 14
Slide 44: Industry-wise details of Standard Assets Restructured (3/4)
Industry-wise details of Standard Assets Restructured (3/4) Rs. In Crores Break-up of Restructured Assets Slippages during as on 31st Mar 12 Sectors/Industries Q4FY12 FY12 Standard NPAs Total Textile 626 974 6487 905 7392 Iron & Steel 55 538 2494 621 3115 Aviation -- 1184 1216 1271 2487 Power 9 419
Slide 45: Break-up of Other Industries Restructured (4/4)
Break-up of Other Industries Restructured (4/4) Rs. In Crores Break-up of Re-structured Assets Break-up of Others Slippages during as on 31st Mar 12 Sectors/Industries Q4FY12 FY12 Standard NPAs Total Food Processing -- -- 1565 -- 1565 Paper -- 82 666 127 793 Chemicals 73 113 381 193 574 Cement -- --
Slide 46: Manpower Planning
Manpower Planning 31.03.2009 205896 31.03.2010 200299 31.03.2011 222933 31.03.2012 215481 46
Slide 47: Branch Expansion
Branch Expansion Semi- As on Metro Urban Rural Total Urban 31.03.2009 1744 2009 3323 7372 11448 31.03.2010 1866 2240 3645 4745 12496 31.03.2011 2079 2416 3909 5138 13452 31.03.2012 2218 2502 3995 5382 14097 No of e-SBIN branches 121 85 144 120 470 merged during 2010-11 47
Slide 48: Expanding Footprint
Expanding Footprint Mar 11 Mar 12 YOY Incr. No. of Group Branches 18266 19193 927 Branches No. of SBI Domestic Branches 13542 14097 555 No. of Overseas Branches 156 173 17 No. of ATMs for the Group 25005 27286 2281 ATMs No. of ATMs for SBI 20084 22141 2057 Hits per day 285 285 -- Debit Cards No. of
Slide 49: Balance Sheet Size - Consolidated
Balance Sheet Size - Consolidated Rs. In crores LIABILITIES March 11 Mar 12 YOY Growth (%) Capital 635 671 5.68 Reserves and Surpluses 82836 105559 27.43 Minority Interest 2977 3726 25.14 Deposits 1255562 1414689 12.67 Borrowings 142471 157991 10.89 Other Liabilities & Provisions 163417 147320 -9.85
Slide 50: Consolidated Financials
Consolidated Financials Rs. In crores YOY YOY Q4 FY11 Q4 FY12 FY11 FY12 Gr.% Gr.% Interest Earned 30072 39919 32.7 113636 147197 29.5 Interest Paid 18639 24196 29.8 68086 89320 31.2 Net Int. Income 11433 15724 37.5 45550 57878 27.1 Other Income 10071 13583 34.9 34207 29835 (12.8) Operating Income 21
Slide 51: Performance Highlights of Non-Banking Subsidiaries (1/4)
Performance Highlights of Non-Banking Subsidiaries(1/4) Rs. In crores Date of Total Name Nature of Activity PAT ROE % Incorporation Income SBI Capital Markets Ltd Investment Banker 02.07.1986 491 251 32.54 SBI Funds Management Asset Management P Ltd 07.02.1992 248 61 19.88 Company SBI Life Insurance
Slide 52: Highlights of Non-Banking Subsidiaries (2/4)
Highlights of Non-Banking Subsidiaries(2/4) SBI Life Insurance Company Ltd. • PAT of Rs. 556 Cr. (YOY growth of 52%). Declared dividend @ 5%. • Gross written Premium booked during the FY 12 Rs.13,134 Cr (YOY growth of 1.5%). • Moves to FIRST position amongst Private Life Insurers in New Business Pre
Slide 53: Highlights of Non-Banking Subsidiaries (3/4)
Highlights of Non-Banking Subsidiaries(3/4) SBI DFHI Ltd. • PAT of Rs.44 Cr. (YOY negative growth of 23%). • Share in outright turnover amongst all market participants increase by more than 27% YOY. • Regulatory targets for bidding commitments adhered to. Success Ratio 48% as against RBI stipulation
Slide 54: Highlights of Non-Banking Subsidiaries (4/4)
Highlights of Non-Banking Subsidiaries(4/4) SBI General Insurance Co. Ltd. • Loss of Rs. 95 Cr. In FY12 as against loss of Rs. 27 Cr. In FY11. • Gross written Premium Rs.250 Cr as against Rs.43 Cr. (YOY growth of 481%). • Solvency Margin as on 31st March 2012 is 10.23 as against Regulatory stipulati
Slide 55: DRAD DADA
DRAD DADA DAAD DIVA