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Share Price: 95.40

Bid: 95.40

Ask: 96.00

Change: 1.40 (1.49%)

Spread: 0.60 (0.629%)

Open: 93.10

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Interim Results

27 Oct 2008 07:00

RNS Number : 7172G

State Bank Of India

27 October 2008

TO: RNS

STATE BANK OF INDIA

GLOBAL DEPOSITARY RECEIPTS (GDRs)

COMMON CODE 6996167, ISIN -US 8565522039,

CINS - 856552203

LISTING AGREEMENT

REVIEWED (UNAUDITED) FINANCIAL RESULTS FOR

THE QUARTER/ HALF YEAR ENDED 30TH SEPTEMBER, 2008

We enclose for your information a copy of our letter No.CO/S&B/SKT/2008/3010 dated 27.10.2008 addressed to Bombay Stock Exchange Ltd., Mumbai along with a copy of the reviewed (unaudited) financial results for the quarter/half year ended 30th September 2008.

General Manager

Telephone No.: 91 22 2283 0535/2288 3888

Fax No.: 91 22 2285 5348/22022678

Encl. as above

LETTER TO: Bombay Stock Exchange Ltd., 27-10-2008

CO/S&B/SKT/2008/3010

Dear Sir/Madam,

LISTING AGREEMENT

REVIEWED (UNAUDITED) FINANCIAL RESULTS FOR

THE QUARTER/ HALF YEAR ENDED 30TH SEPTEMBER, 2008

In terms of Clause 41 of the Listing Agreement with the Exchange, we forward herewith a copy of the reviewed (unaudited) financial results of the Bank for the quarter/half year ended 30th September, 2008, approved by the Central Board of the Bank at its meeting held at New Delhi on date.

Yours faithfully,

General Manager

Encl. as above

STATE BANK OF INDIA
Central Office, Mumbai - 400 021.

UNAUDITED FINANCIAL RESULTS FOR THE QUARTER/HALF-YEAR ENDED 30TH SEPTEMBER 2008
												(Rs.in crores)
			State Bank of India					State Bank of India (Consolidated)
			Quarter ended		Half year ended		Year ended	Quarter ended		Half year ended		Year ended
	Particulars		30.09.2008	30.09.2007	30.09.2008	30.09.2007	31.03.2008	30.09.2008	30.09.2007	30.09.2008	30.09.2007	31.03.2008
			(Reviewed)	(Reviewed)	(Reviewed)	(Reviewed)	(Audited)	(Reviewed)	(Reviewed)	(Reviewed)	(Reviewed)	(Audited)

1		Interest Earned (a) + (b) + (c) + (d)	15566.50	11616.28	29365.70	22706.8	48950.31	22568.05	17058.28	42792.13	33358.30	71495.82
	(a)	Interest/discount on advances / bills	11482.08	8365.07	21496.07	16353.6	35228.11	16802.17	12395.84	31621.43	24247.11	51920.07
	(b)	Income on Investments	3828.70	2862.96	7336.64	5461.30	11944.16	5460.63	4200.55	10515.85	8051.67	17406.32
	(c)	Interest on balances with Reserve Bank of India
		and other inter bank funds	201.81	386.61	408.88	888.67	1200.08	291.10	435.40	544.66	1017.61	1442.55
	(d)	Others	53.91	1.64	124.11	3.21	577.96	14.15	26.49	110.19	41.91	726.88

2		Other Income	2343.14	2041.94	4747.01	3180.54	8694.93	4515.42	4365.98	8038.77	6948.50	18722.99
3		TOTAL INCOME (1+2)	17909.64	13658.22	34112.71	25887.31	57645.24	27083.47	21424.26	50830.90	40306.80	90218.81

4		Interest Expended	10111.15	7853.36	19092.69	14742.5	31929.08	15049.33	11783.16	28559.29	22230.59	47944.04

5		Operating Expenses (i) + (ii)	3605.28	3091.64	6864.47	6069.65	12608.61	6331.18	5795.83	11399.69	10881.27	23943.23
	(i)	Employee cost	2221.20	1995.22	4352.15	4021.59	7785.87	2994.01	2756.68	5867.79	5530.53	10457.51
	(ii)	Other Operating Expenses	1384.08	1096.42	2512.32	2048.06	4822.74	3337.17	3039.15	5531.90	5350.74	13485.72

6		TOTAL EXPENDITURE (4) + (5)	13716.43	10945.00	25957.16	20812.13	44537.69	21380.51	17578.99	39958.98	33111.86	71887.27
		(excluding Provisions and Contingencies)
7		OPERATING PROFIT (3 - 6)	4193.21	2713.22	8155.55	5075.18	13107.55	5702.96	3845.27	10871.92	7194.94	18331.54
		(before Provisions and Contingencies)
8		Provisions (other than tax) and Contingencies (net of write-back)	610.61	85.71	2160.08	245.08	2668.65	1044.63	333.67	3684.92	721.00	4340.97
		--- of which provisions for Non-performing assets	911.05	-16.47	663.65	489.85	2000.94	1118.50	209.08	1021.44	917.27	2804.05
9		Exceptional Items	0.00	0.00	0.00	0.00	0.00	370.57	0.00	370.57	0.00	0.00
10		Profit from Ordinary Activities before tax (7-8-9)	3582.60	2627.51	5995.47	4830.10	10438.90	4287.76	3511.60	6816.43	6473.94	13990.57
11		Tax expenses	1322.88	1016.09	2094.96	1792.87	3709.78	1829.72	1307.04	2678.37	2345.74	4777.73
12		Net Profit from Ordinary Activities after tax (10-11)	2259.72	1611.42	3900.51	3037.23	6729.12	2458.04	2204.56	4138.06	4128.20	9212.84
13		Extraordinary items (net of tax expense)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
14		Net Profit for the period (12-13)	2259.72	1611.42	3900.51	3037.23	6729.12	2458.04	2204.56	4138.06	4128.20	9212.84
		Share of Minority	0.00	0.00	0.00	0.00	0.00	79.85	53.84	118.96	115.82	252.23
15		Net Profit after Minority Interest	2259.72	1611.42	3900.51	3037.23	6729.12	2378.19	2150.72	4019.10	4012.38	8960.61

16		Paid-up equity share capital	634.88	526.30	634.88	526.30	631.47	634.88	526.30	634.88	526.30	631.47
		(Face Value of Rs. 10 per share)
17		Reserves excluding Revaluation Reserves	48401.19	30503.66	48401.19	30503.7	48401.19	60604.91	41691.86	60604.91	41691.86	60604.91
		(as per balance sheet of previous accounting year)
18		Analytical Ratios
	(i)	Percentage of shares held by Government of India	59.41%	59.73%	59.41%	59.73%	59.73%	59.41%	59.73%	59.41%	59.73%	59.73%
	(ii)	Capital Adequacy Ratio	12.14%	12.85%	12.14%	12.85%	13.54%					13.49%
	(iii)	Earnings Per Share (EPS) (in Rs.)
		(a) Basic and diluted EPS before Extraordinary items (net of tax	35.61	30.55	61.53	57.58	126.62	37.48	40.78	63.40	76.07	168.61
		expense)	(not annualised)	(not annualised)	(not annualised)	(not annualised)		(not annualised)	(not annualised)	(not annualised)	(not annualised)
		(b) Basic and diluted EPS after Extraordinary items	35.61	30.55	61.53	57.58	126.62	37.48	40.78	63.40	76.07	168.61
			(not annualised)	(not annualised)	(not annualised)	(not annualised)		(not annualised)	(not annualised)	(not annualised)	(not annualised)
	(iv)	NPA Ratios
		(a) Amount of gross non-performing assets	12552.32	11193.92	12552.3	11193.92	13599.49
		(b) Amount of net non-performing assets	6617.86	5831.29	6617.86	5831.29	7424.34
		(c) % of gross NPAs	2.51%	3.07%	2.51%	3.07%	3.21%
		(d) % of net NPAs	1.34%	1.63%	1.34%	1.63%	1.78%
	(v)	Return on Assets (Annualised)	1.13%	0.99%	0.99%	0.99%	1.01%
19		Public Shareholding
		--- No. of shares	257673022	211959678	257673022	2.12E+08	254263176
		--- Percentage of Shareholding	40.59%	40.27%	40.59%	40.27%	40.27%


Unaudited Segment-wise Revenue, Results and Capital Employed
							(Rs.in crores)
			Quarter ended		Half year ended		Year ended
		Particulars	30.09.2008	30.09.2007	30.09.2008	30.09.2007	31.03.2008
			(Reviewed)	(Reviewed)	(Reviewed)	(Reviewed)	(Audited)
1		Segment Revenue (income)
	a	Treasury	4314.49	3262.98	8643.39	5582.16	13982.33
	b	Corporate / Wholesale Banking	5094.81		9508.74		15662.77
	c	Retail Banking	8500.34	12909.83	15960.58	25758.22	27654.45
		Less Inter Segmental		2514.59	0.00	5453.07
		Total	17909.64	13658.22	34112.71	25887.31	57299.55

2		Segment Results (Profit before tax)
	a	Treasury	108.68	641.74	-708.18	325.03	1230.76
	b	Corporate / Wholesale Banking	1572.93		2601.04		4961.26
	c	Retail Banking	2337.03	2422.35	4964.96	5307.72	5617.52
		Total	4018.64	3064.09	6857.82	5632.75	11809.54
		Add / (Less) : Unallocated	-436.04	-436.58	-862.35	-803.15	-1370.64

		Profit before Tax	3582.60	2627.51	5995.47	4829.60	10438.90
		Less : Tax	1322.88	1016.09	2094.96	1792.37	3709.78
		Less : Extraordinary Profit / Loss	0.00	0.00	0.00	0.00	0.00
		Net Profit	2259.72	1611.42	3900.51	3037.23	6729.12

3		Capital Employed (Segment Assets - Segment Liabilities)
	a	Treasury	13166.77	3399.94	13166.77	3399.94	13166.77
	b	Corporate / Wholesale Banking	29478.56		29478.56		29478.56
	c	Retail Banking	6387.33	27898.62	6387.33	27898.62	6387.33
		Total	49032.66	31298.56	49032.66	31298.56	49032.66

1. Capital employed are as on 31st March of the previous year

2. The segment information is as certified by management and relied upon by the Auditors.

The above results have been approved by the Central Board of the Bank on the 27th October 2008 and were subjected to Review by the Auditors.

New Delhi S. K. BHATTACHARYYA O. P. BHATT

Date : 27.10.2008 Managing Director and Chief Credit & Risk Officer Chairman

This information is provided by RNS

The company news service from the London Stock Exchange

END

IR IIFIRITLDFIT

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30th Sep 2009	10:45 am	RNS	Appointment of Statutory Central Auditors
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9th Jul 2009	8:01 am	RNS	Annual Financial Report
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22nd Jun 2009	10:52 am	RNS	Dividend Declaration
19th Jun 2009	1:57 pm	RNS	Acquisition of State Bank of Indore
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18th May 2009	7:00 am	RNS	Notice of AGM
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12th May 2009	9:05 am	RNS	Audited Final Results
30th Apr 2009	7:00 am	RNS	Notice of Meeting
29th Apr 2009	10:34 am	RNS	Notice of Board Meeting
15th Apr 2009	7:09 am	RNS	Shareholding Pattern
6th Apr 2009	1:05 pm	RNS	Withdrawal of Strike Action
6th Apr 2009	7:00 am	RNS	Re Joint Venture

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