100s of titles, one news app for just $10 a month.
Dive Deeper:
SBI announces dividend despite profit missing estimates, fixes record date
The lender has missed profit estimates as bad loan provisions and income from businesses other than lending dropped.
Bank of Baroda posts Rs 1,779 crore profit in March quarter
MUMBAI: State-owned Bank of Baroda Friday reported a standalone profit after tax of Rs 1,779 crore in the quarter ended…
Rakesh Jhunjhunwala held this public sector bank is a hot pick on markets post Q4 earnings
For the full year FY22, net profit climbed to ₹5,678.42 crore more than doubled from ₹2,557.58 crore in FY21. Net…
L&T Q4FY22: Consolidated PAT rises by 10% YoY in line with revenue growth
L&T registered a consolidated net profit of ₹3,621 crore for the quarter ending March 31, 2022 (Q4FY22). .Consolidated revenues stood at…
One subscription that gives you access to news from hundreds of sites
PNB shares tumble as Q4 profit drops 66%
PNB Q4 net profit declined 66% to ₹202 crore
Apple Supplier Foxconn Weathers It All To Report Highest Quarterly Profit In 8 Years
Apple, Inc. (NASDAQ: AAPL)'s iPhone assembler Hon Hai Precision Industry Co., Ltd.
Get all your news in one place
Latest Business news:
HSBC suspends head of responsible investing who called climate warnings ‘shrill’
Bank investigating Stuart Kirk’s conference speech deriding flooding risks and climate warnings from UN and Bank of England
Read news from The Economist, FT, Bloomberg and more, with one subscription
Learn More
John O'Neill to front Star casino inquiry
Star Entertainment Group executive chairman John O'Neill is scheduled to appear at the gaming inquiry into its suitability to operate…
After $5 Trillion Rout, Emerging Markets Seek Turnaround Signal
The wreckage of a $5 trillion rout in emerging markets is starting to look like a buying opportunity to some…
New Zealand PM Ardern to visit U.S. to boost exports, lure tourists
New Zealand Prime Minister Jacinda Ardern will visit the United States this week in a bid to boost exports and…
Rod Sims says Facebook should be forced to negotiate with SBS under news media bargaining code
Despite dozens of deals to pay Australian news publishers for content, social media company has left out SBS and the…
From analysis to good news, read the world’s best news in one place
Crypto might have an insider trading problem
Anonymous wallets buy up tokens right before they are listed and sell shortly afterward
Airbus Sees Business Jet Sales Boost Despite War, China Lockdown
Airbus SE’s corporate-jet division is more optimistic about prospects for this year, even as the Russia-Ukraine conflict and Chinese coronavirus…

SBI reports highest ever quarterly profit but misses estimates

By Livemint
SBI reports Q4 results (Mint)

SBI's net interest income (NII), the difference between interest earned and expended, saw an increase of 15% to 31,198 crore during Q4FY22 from 27,067 crore year-on-year (YoY). Domestic net interest margin (NIM) for Q4FY22 increased by 29 bps YoY at 3.40%.

The total provision for contingencies including those for bad loans stood at 7,237 crore compared to 6,974 crore from the previous quarter and 11,051 crore (YoY).

The public lender's asset quality improved as gross non-performing assets (NPAs) were at 3.97% of the total assets, down from 4.50% while net NPA stood at 1.02% compared to 1.34% quarter-on-quarter (QoQ).

SBI's provision coverage ratio (PCR) improved by 416 bps YoY at 75.04%. PCR (including AUCA) stands at 90.20%. Meanwhile, its slippage Ratio for the fourth quarter stands at 0.43%.

The board has declared a dividend of 7.10 per equity share (710%) for the financial year ended 31st March, 2022. The record date for the said dividend has been fixed on Thursday, May 26, 2022.

On a consolidated basis, the bank reported a 56% increase in net profit at 9,549 crore, compared to 6,126 crore in the fourth quarter of the previous fiscal.

SBI shares were trading 2% higher at 473 apiece on the BSE in Friday's afternoon deals. The bank stock is down 0.3% in year-to-date (YTD) terms.

What is inkl?
The world’s most important news, from 100+ trusted global sources, in one place.
Morning Edition
Your daily
news overview

Morning Edition ensures you start your day well informed.

No paywalls, no clickbait, no ads
Enjoy beautiful reading

Content is only half the story. The world's best news experience is free from distraction: ad-free, clickbait-free, and beautifully designed.

Expert Curation
The news you need to know

Stories are ranked by proprietary algorithms based on importance and curated by real news journalists to ensure that you receive the most important stories as they break.

Dive Deeper:
SBI announces dividend despite profit missing estimates, fixes record date
The lender has missed profit estimates as bad loan provisions and income from businesses other than lending dropped.
Bank of Baroda posts Rs 1,779 crore profit in March quarter
MUMBAI: State-owned Bank of Baroda Friday reported a standalone profit after tax of Rs 1,779 crore in the quarter ended…
Rakesh Jhunjhunwala held this public sector bank is a hot pick on markets post Q4 earnings
For the full year FY22, net profit climbed to ₹5,678.42 crore more than doubled from ₹2,557.58 crore in FY21. Net…
L&T Q4FY22: Consolidated PAT rises by 10% YoY in line with revenue growth
L&T registered a consolidated net profit of ₹3,621 crore for the quarter ending March 31, 2022 (Q4FY22). .Consolidated revenues stood at…
One subscription that gives you access to news from hundreds of sites
PNB shares tumble as Q4 profit drops 66%
PNB Q4 net profit declined 66% to ₹202 crore
Apple Supplier Foxconn Weathers It All To Report Highest Quarterly Profit In 8 Years
Apple, Inc. (NASDAQ: AAPL)'s iPhone assembler Hon Hai Precision Industry Co., Ltd.
Get all your news in one place