Last checked at 27 Oct 2008 07:00
TO: RNS
STATE BANK OF INDIA
LETTER TO: Bombay Stock Exchange Ltd., 27-10-2008
| STATE BANK OF INDIA | ||||||||||||
| Central Office, Mumbai - 400 021. | ||||||||||||
| UNAUDITED FINANCIAL RESULTS FOR THE QUARTER/HALF-YEAR ENDED 30TH SEPTEMBER 2008 | ||||||||||||
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| State Bank of India | State Bank of India (Consolidated) | ||||||||
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| Quarter ended | Half year ended | Year ended | Quarter ended | Half year ended | Year ended | |||||
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| 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 | |
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| (Reviewed) | (Reviewed) | (Reviewed) | (Reviewed) | (Audited) | (Reviewed) | (Reviewed) | (Reviewed) | (Reviewed) | (Audited) |
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| 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 |
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| (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 |
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| (b) | Income on Investments | 3828.70 | 2862.96 | 7336.64 | 5461.30 | 11944.16 | 5460.63 | 4200.55 | 10515.85 | 8051.67 | 17406.32 |
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| (c) | Interest on balances with Reserve Bank of India |
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| 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 |
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| (d) | Others | 53.91 | 1.64 | 124.11 | 3.21 | 577.96 | 14.15 | 26.49 | 110.19 | 41.91 | 726.88 |
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| 2 |
| Other Income | 2343.14 | 2041.94 | 4747.01 | 3180.54 | 8694.93 | 4515.42 | 4365.98 | 8038.77 | 6948.50 | 18722.99 |
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| TOTAL INCOME (1+2) | 17909.64 | 13658.22 | 34112.71 | 25887.31 | 57645.24 | 27083.47 | 21424.26 | 50830.90 | 40306.80 | 90218.81 |
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| 4 |
| Interest Expended | 10111.15 | 7853.36 | 19092.69 | 14742.5 | 31929.08 | 15049.33 | 11783.16 | 28559.29 | 22230.59 | 47944.04 |
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| 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 |
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| (i) | Employee cost | 2221.20 | 1995.22 | 4352.15 | 4021.59 | 7785.87 | 2994.01 | 2756.68 | 5867.79 | 5530.53 | 10457.51 |
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| (ii) | Other Operating Expenses | 1384.08 | 1096.42 | 2512.32 | 2048.06 | 4822.74 | 3337.17 | 3039.15 | 5531.90 | 5350.74 | 13485.72 |
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| 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 |
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| (excluding Provisions and Contingencies) |
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| 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 |
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| (before Provisions and Contingencies) |
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| 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 |
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| --- 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 |
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| 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 |
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| Tax expenses | 1322.88 | 1016.09 | 2094.96 | 1792.87 | 3709.78 | 1829.72 | 1307.04 | 2678.37 | 2345.74 | 4777.73 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| (Face Value of Rs. 10 per share) |
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| 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 |
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| (as per balance sheet of previous accounting year) |
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| 18 |
| Analytical Ratios |
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| (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% |
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| (ii) | Capital Adequacy Ratio | 12.14% | 12.85% | 12.14% | 12.85% | 13.54% |
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| 13.49% |
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| (iii) | Earnings Per Share (EPS) (in Rs.) |
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| (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 |
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| expense) | (not annualised) | (not annualised) | (not annualised) | (not annualised) |
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| (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 |
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| (not annualised) | (not annualised) | (not annualised) | (not annualised) |
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| (iv) | NPA Ratios |
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| (a) Amount of gross non-performing assets | 12552.32 | 11193.92 | 12552.3 | 11193.92 | 13599.49 |
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| (b) Amount of net non-performing assets | 6617.86 | 5831.29 | 6617.86 | 5831.29 | 7424.34 |
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| (c) % of gross NPAs | 2.51% | 3.07% | 2.51% | 3.07% | 3.21% |
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| (d) % of net NPAs | 1.34% | 1.63% | 1.34% | 1.63% | 1.78% |
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| (v) | Return on Assets (Annualised) | 1.13% | 0.99% | 0.99% | 0.99% | 1.01% |
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| 19 |
| Public Shareholding |
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| --- No. of shares | 257673022 | 211959678 | 257673022 | 2.12E+08 | 254263176 |
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| --- Percentage of Shareholding | 40.59% | 40.27% | 40.59% | 40.27% | 40.27% |
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| Unaudited Segment-wise Revenue, Results and Capital Employed | |||||||
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| Quarter ended | Half year ended | Year ended | ||
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| Particulars | 30.09.2008 | 30.09.2007 | 30.09.2008 | 30.09.2007 | 31.03.2008 |
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| (Reviewed) | (Reviewed) | (Reviewed) | (Reviewed) | (Audited) |
| 1 |
| Segment Revenue (income) |
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| a | Treasury | 4314.49 | 3262.98 | 8643.39 | 5582.16 | 13982.33 |
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| b | Corporate / Wholesale Banking | 5094.81 |
| 9508.74 |
| 15662.77 |
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| c | Retail Banking | 8500.34 | 12909.83 | 15960.58 | 25758.22 | 27654.45 |
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| Less Inter Segmental |
| 2514.59 | 0.00 | 5453.07 |
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| Total | 17909.64 | 13658.22 | 34112.71 | 25887.31 | 57299.55 |
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| 2 |
| Segment Results (Profit before tax) |
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| a | Treasury | 108.68 | 641.74 | -708.18 | 325.03 | 1230.76 |
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| b | Corporate / Wholesale Banking | 1572.93 |
| 2601.04 |
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| c | Retail Banking | 2337.03 | 2422.35 | 4964.96 | 5307.72 | 5617.52 |
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| Total | 4018.64 | 3064.09 | 6857.82 | 5632.75 | 11809.54 |
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| Add / (Less) : Unallocated | -436.04 | -436.58 | -862.35 | -803.15 | -1370.64 |
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| Profit before Tax | 3582.60 | 2627.51 | 5995.47 | 4829.60 | 10438.90 |
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| Less : Tax | 1322.88 | 1016.09 | 2094.96 | 1792.37 | 3709.78 |
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| Less : Extraordinary Profit / Loss | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
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| Net Profit | 2259.72 | 1611.42 | 3900.51 | 3037.23 | 6729.12 |
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| 3 |
| Capital Employed (Segment Assets - Segment Liabilities) |
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| a | Treasury | 13166.77 | 3399.94 | 13166.77 | 3399.94 | 13166.77 |
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| b | Corporate / Wholesale Banking | 29478.56 |
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| c | Retail Banking | 6387.33 | 27898.62 | 6387.33 | 27898.62 | 6387.33 |
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| Total | 49032.66 | 31298.56 | 49032.66 | 31298.56 | 49032.66 |
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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