India’s largest public sector bank, State Bank of India (SBI) has announced its financial results for the third quarter ending 31st December 2015 (FY 2015). SBI’s net profit for the third quarter FY 2015 is at Rs 2910 crore as against Rs 2234 crore a year ago, increased by 30.24% YoY.
Net Interest Income which is the difference between interest income and interest expense increased by 9.2% from Rs 12616 crore in Q3 FY 2014 to Rs 13777 crores in Q3 FY 2015. Non Interest income has also increased by 9.2% from last year’s Rs 4215 crore (Q3 FY2014) to Rs 5238 crore in third quarter ending FY 2015.
SBI’s operating Income increased by 12.97% to Rs 19014 crores in Q3 Fy 2015 from Rs 16831 crore a year ago. Operating Profit for SBI is at Rs 9294 crore for October-December quarter of FY 2015 compare to Rs 7618 crore in Q3 Fy 2014, increased by 22% YoY.
Gross NPA Ratio is down by 83 basis points to 4.90% in Q3FY15 as against 5.73% in Q3FY14. Net NPA for third quarter has been decreased to 2.8% as against 3.24% a year ago.
State Bank of India’s deposit increased from Rs 1349940 crore in December 2013 to Rs 1510077 crore in December 2014, increased by 11.86% YoY.
Saving Bank Deposits, gross advances and large corporate advances also increased by 9.33% 6.91% and 20.01% year on year respectively.
SBI’s (State bank of India) financial results highlights – Rupees in Crore
||Q3 FY 2015
||Q3 FY 2014
|Total Interest Income
|Net Interest Income
|Gross NPA (in percentage)
|Net NPA (in percentage)
SBI Capital Markets Ltd (consolidated) has registered a net profit of Rs 212.02 crore for the April-December period of FY 2015 compare to Rs 152 crore a year ago.
SBI Cards & Payments Services Private Ltd registered a net profit of Rs 251.66 crore in April-December period of FY 2015 against Rs 231.74 crore in a year ago, 8.6% growth.
SBI Life Insurance Company Ltd posted a Net Profit of Rs 614.59 crore in 9MFY15 from Rs 540.84 crore in 9MFY2014, 13.64% Year-on-Year growth.
Net Profit (after minority interest) of SBI Group has increased from Rs 10210 crore during April-December period of FY 2014 to Rs 12300 crore during April-December FY 2015, 20.47% year-on-year growth.