MIRA
INFORM REPORT
|
Report Date : |
10.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
STATE BANK OF |
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Registered
Office : |
State
Bank Bhavan, Central Office, 8th Floor, Madame Cama Marg, Nariman
Point, Mumbai – 400021, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Year of Establishment : |
1806 |
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Capital
Investment / Paid-up Capital : |
Rs. 6710.448 Millions |
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Legal Form : |
Subject
is a Public Sector Commercial Bank Owned by the Government of India. The
Bank's Shares are Listed on the Stock Exchanges. |
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Line of Business
: |
Banking
Activities. |
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No. of Employees
: |
1447 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aaa (87) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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Maximum Credit Limit : |
USD 3300000000 |
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Status : |
Excellent |
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Payment Behaviour : |
Prompt |
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Litigation : |
Clear |
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Comments : |
Subject is the oldest and the largest bank in It is a having excellent track. Financial position of the bank is
outstanding. Trade relations are reported as praiseworthy. Business is highly
active. Payment terms are prompt. The bank can be considered excellent for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Tier I Perpectual Bonds : AAA |
|
Rating Explanation |
Highest degree of safety and lowest credit
risk. |
|
Date |
October 30, 2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Certificates of Deposit Programme : A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
October 30, 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
State Bank Bhavan, Central
Office, 8th Floor, Madame Cama Marg, Nariman Point, Mumbai –
400021, Maharashtra, India |
|
Tel. No.: |
91-22-22830535/ 22883888/ 22022678 |
|
Fax No.: |
91-22-22855348 |
|
E-Mail : |
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Website : |
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Central Office : |
State Bank Bhavan, P. B. No. 12, |
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Tel No.: |
91-22-22022426 |
|
Fax No.: |
91-22-22852708/ 22040073/ 2385139 |
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|
Local Boards : |
Located
at : ·
Kolkata, ·
Mumbai, ·
Chennai, Tamilnadu ·
·
·
Ahmedabad, ·
·
·
·
Bhubaneshwar, Orissa ·
·
·
|
DIRECTORS
AS ON 31.03.2012
|
Name : |
Mr. Pradip Chaudhari |
|
Designation : |
Chairman |
|
|
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|
Name : |
Mr. Hemant G. Contractor |
|
Designation : |
Managing Director |
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|
Name : |
Mr. Diwakar Gupta |
|
Designation : |
Managing Director |
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|
Name : |
Mr. A. Krishna Kumar |
|
Designation : |
Managing Director |
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|
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|
Name : |
Mr. Dileep C. Choksi |
|
Designation : |
Director |
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|
Name : |
Mr. S. Venkatachalam |
|
Designation : |
Director |
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|
Name : |
Mr. D. Sundaram |
|
Designation : |
Director |
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|
Name : |
Mr. Parthasarathy Iyengar |
|
Designation : |
Director |
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|
Name : |
Mr. Jyoti Bhushan Mohapatra |
|
Designation : |
Director |
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|
Name : |
Mr. G. D. Nadaf |
|
Designation : |
Director |
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|
Name : |
Mr. Rashpal Malhotra |
|
Designation : |
Director |
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|
Name : |
Mr. Deepak Ishwarbhai Amin |
|
Designation : |
Director |
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|
Name : |
Mr. D. K. Mittal |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Subir Vithal Gokarn |
|
Designation : |
Director |
KEY EXECUTIVES
AS ON 18.05.2012
COMMITTEES OF THE BOARD
|
Executive
Committee of the Central Board (ECCB) |
Mr. R. Sridharan -Managing Directors Mr. Hemant G. Contractor Mr. A. Krishna Kumar Mr. Diwakar Gupta Mr. Dr. Subir V.
Gokarn, and all or any of the other Directors who are normally residents or
may for the time being be present at any place within India where the meeting
is held. |
|
|
|
|
Audit
Committee of the Board (ACB) |
Mr. Dileep C.
Choksi, Director – Chairman of the Committee Mr. D. Sundaram, Director – Member Mr. Parthasarathy Iyengar, Director – Member Mr. D. K. Mittal, GOI Nominee – Member
(Ex-officio) Mr. Dr. Subir V.
Gokarn, RBI Nominee – Member (Ex-officio) Mr. Hemant G. Contractor, MD and GE (IB)-
Member (Ex-Officio) Mr. A. Krishna
Kumar, MD and GE (NB) –Member (Ex-Officio) |
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|
|
|
Risk
Management Committee of the Board (RMCB) |
Mr. Hemant G.
Contractor, MD and GE (IB) – Member (Ex-Officio)
Chairman of the Committee Mr. Diwakar
Gupta, MD&CFO-Member (Ex-officio) Mr. S.
Venkatachalam, Director – Member Mr. D. Sundaram,
Director – Member Mr. Parthasarathy Iyengar, Director – Member |
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|
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|
Shareholders’/Investors’
Grievance Committee of the Board (SIGCB) |
Mr. S.
Venkatachalam, Director– Chairman of the Committee Mr. Dileep C.
Choksi, Director – Member Mr. Rashpal
Malhotra, Director – Member Mr. Hemant G.
Contractor, MD and GE (IB) – Member (Ex-officio) Mr. Diwakar Gupta, MD and CFO – Member (Ex-officio) |
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|
|
|
Special
Committee of the Board of Directors for Monitoring of
Large Value Frauds |
Mr. Diwakar
Gupta, MD and CFO-Member (Ex-officio)- Chairman of the Committee Mr. A. Krishna
Kumar, MD and GE (NB) – Member (Ex-Officio) Mr. Dileep C.
Choksi, Director – Member Mr. S.
Venkatachalam, Director – Member Mr.
Parthasarathy Iyengar, Director – Member Mr. Rashpal Malhotra, Director – Member |
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|
|
|
Customer
Service Committee of the Board (CSCB) |
Mr. Hemant G.
Contractor, MD and GE (IB) – Member (Ex-Officio) Chairman of the Committee Mr. A. Krishna
Kumar, MD and GE (NB) – Member (Ex-Officio) Mr. Dileep C.
Choksi, Director – Member Mr. S.
Venkatachalam, Director – Member Mr. G. D. Nadaf,
Director – Member Mr. Rashpal Malhotra, Director – Member |
|
|
|
|
Technology
Committee of the Board (TCB) |
Mr. D. Sundaram,
Director - Chairman of the Committee Mr. S.
Venkatachalam, Director – Member Mr.
Parthasarathy Iyengar, Director – Member Mr. Diwakar
Gupta, MD and CFO – Member (Ex-officio) Mr. A. Krishna
Kumar, MD and GE (NB) – Member (Ex-Officio) |
|
|
|
|
Remuneration
Committee of the Board |
Mr. D. K.
Mittal, GOI Nominee – Member (Ex-officio) Mr. Dr. Subir V.
Gokarn, RBI Nominee – Member (Ex-officio) Mr. Dileep C.
Choksi, Director – Member Mr. S. Venkatachalam, Director – Member |
MEMBERS OF LOCAL BOARD:
|
Ahmedabad |
Mr. P. Nanda Kumaran Chief General Manager (Ex-Officio) |
|
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|
Bangalore |
Mrs. Ashwini Mehra Chief General Manager (Ex-Officio) |
|
|
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|
Bhopal |
Mr. Sushil Kumar
Mishra Chief General
Manager (Ex-Officio) Mr. Ramesh Warlyani Mr. G. P. Gupta Mr. Manohar Bothra |
|
|
|
|
Bhubaneswar |
Mr. Praveen Kumar
Gupta Chief General Manager (Ex-Officio) |
|
|
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|
Chandigarh |
Mr. N.
Krishnamachari Chief General
Manager (Ex-Officio) Mr. Rashpal
Malhotra* Mr. Vinod Bihari Sharma |
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|
Chennai |
Mr. Sharad Sharma Chief General
Manager (Ex-Officio) Mr. T. R. Loganathan |
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|
Hyderabad |
Mr. Rakesh Sharma Chief General Manager (Ex-Officio) |
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Kolkata |
Mr. Suriender Kumar Chief General Manager (Ex-Officio) Mr. Subrata Ghosh |
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|
Lucknow |
Mr. K. Ramachandran Chief General
Manager (Ex-Officio) Mr. Madan Mohan Shukla |
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|
Mumbai |
Dr. J. N. Misra Chief General
Manager (Ex-Officio) Mr. Dileep C.
Choksi* Mr. S.
Venkatachalam* Mr. D. Sundaram* Mr.
Parthasarathy Iyengar* Mr. Pradeep S
Jain Mr. S. M. Lodha |
|
|
|
|
Delhi |
Mr. B. Sriram Chief General
Manager (Ex-Officio) Mr. Deepak
Ishwarbhai Amin* |
|
|
|
|
North Eastern |
Mr. Rajnish
Kumar Chief General
Manager (Ex-Officio) Mr. Ashok Kumar Das |
|
|
|
|
Patna |
Mr. Jeevandas
Narayan Chief General
Manager (Ex-Officio) Mr. Tanvir Akhtar |
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|
Kerala: |
Mr. V. Murali Chief General
Manager (Ex-Officio) Mrs. Alphonsa John Mr. Sudhir
Abraham |
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|
|
MEMBERS OF CENTRAL MANAGEMENT COMMITTEE: |
Mr. Pratip
Chaudhuri Chairman Mr. Hemant G. Contractor Managing
Director and Group Executive (International
Banking) Mr. Diwakar
Gupta Managing
Director and Chief Financial Officer Mr. A. Krishna Kumar Managing
Director and Group Executive (National
Banking) Mr. Shyamal Acharya Deputy Managing
Director and Group Executive (Associates and
Subsidiaries) Mr. Santosh B.
Nayar Deputy Managing
Director and Group Executive (Corporate
Banking) Mrs. Arundhati
Bhattacharya Deputy Managing
Director and Corporate Development
Officer Mr. R.
Venkatachalam Deputy Managing
Director and Group Executive (Mid Corporate) Mrs. Soundara
Kumar Deputy Managing
Director and Group Executive (Stressed Assets
Management) Mr. P. Pradeep
Kumar Deputy Managing
Director and Group Executive (Global Markets) Mr. R. K. Saraf Deputy Managing
Director (Corporate
Strategy and New Businesses) Mr. Atanu Sen Deputy Managing
Director and Chief Credit and Risk Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2012
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
413,252,443 |
63.14 |
|
|
413,252,443 |
63.14 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
413,252,443 |
63.14 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
33,594,877 |
5.13 |
|
|
1,569,987 |
0.24 |
|
|
195,981 |
0.03 |
|
|
80,163,363 |
12.25 |
|
|
61,341,849 |
9.37 |
|
Qualified Foreign Investor |
415 |
0.00 |
|
|
176,866,472 |
27.02 |
|
|
|
|
|
|
21,270,910 |
3.25 |
|
|
|
|
|
|
39,092,291 |
5.97 |
|
|
1,487,238 |
0.23 |
|
|
2,541,758 |
0.39 |
|
|
1,092,857 |
0.17 |
|
|
448,021 |
0.07 |
|
|
1,000 |
0.00 |
|
|
308 |
0.00 |
|
|
20,110 |
0.00 |
|
|
979,462 |
0.15 |
|
|
64,392,197 |
9.84 |
|
Total Public shareholding (B) |
241,258,669 |
36.86 |
|
Total (A)+(B) |
654,511,112 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
16,533,726 |
0.00 |
|
|
16,533,726 |
0.00 |
|
Total (A)+(B)+(C) |
671,044,838 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Banking Activities |
GENERAL INFORMATION
|
No. of Employees : |
1447 (Approximately) |
|
|
|
|
Bankers : |
Reserve Bank of India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
M/s Kalyaniwalla and Mistry, Mumbai Mumbai Circle Chartered
Accountants M/s B. M. Chatrath and Company, Kolkata Kolkata Circle Chartered
Accountants M/s K. K. Soni and Company, New Delhi Delhi Circle Chartered
Accountants M/s Essveeyar, Chennai Chennai Circle Chartered
Accountants M/s Venugopal and Chenoy, Hyderabad Hyderabad Circle Chartered
Accountants M/s K. G. Somani and Company, New Delhi Lucknow Circle Chartered
Accountants M/s K. C. Mehta and Company, Vadodara Ahmedabad Circle Chartered
Accountants M/s Dagliya and Company, Bangalore Bangalore Circle Chartered
Accountants M/s M. Verma and Associates, New Delhi Chandigarh Circle Chartered
Accountants M/s Krishnamoorthy and Krishnamoorthy, Kochi Kerala Circle Chartered
Accountants M/s Todi Tulsyan and Company, Patna Patna Circle Chartered
Accountants R. K. J. K. Khanna and Company, New Delhi Bhubaneswar Circle Chartered
Accountants Raj Bordia and Company, Mumbai North Eastern Circle Chartered
Accountants SBA and Company, Indore Bhopal Circle Chartered
Accountants |
|
|
|
|
Subsidiaries : |
DOMESTIC BANKING
SUBSIDIARIES ·
State Bank of ·
State Bank of ·
State Bank of ·
State Bank of ·
State Bank of ·
State Bank of Saurashtra ·
State Bank of Travancore ·
SBI Commercial and International Bank Limited FOREIGN
BANKING SUBSIDIARIES · SBI (Mauritius) Limited · State Bank of India (Canada) · State Bank of India (California) · Commercial Bank of India LLC, Moscow · PT Bank SBI Indonesia · Nepal SBI Bank Limited DOMESTIC NON-BANKING SUBSIDIARIES · SBI Capital Markets Limited · SBI DFHI Limited · SBI Mutual Funds Trustee Company Private Limited · SBI CAP Securities Limited · SBI CAPS Ventures Limited · SBI CAP Trustees Company Limited · SBI Cards and Payment Services Private Limited · SBI Funds Management Private Limited · SBI Life Insurance Company Limited · SBI Pension Funds Private Limited · SBI – SG Global Securities Private Limited · SBI Global Factors Limited · SBI General Insurance Company Limited · SBI Payment Services Private Limited FOREIGN NON-BANKING SUBSIDIARIES · SBICAP (UK) Limited · SBI Funds Management (International) Private Limited · SBICAP Singapore Limited |
|
|
|
|
Associates: |
Regional
Rural Banks · Andhra Pradesh Grameena Vikas Bank · Arunachal Pradesh Rural Bank · Cauvery Kalpatharu Grameena Bank · Chhattisgarh Gramin Bank · Deccan Grameena Bank · Ellaquai Dehati Bank Meghalaya Rural Bank (Formerly known as Ka Bank Nongkyndong Ri Khasi Jaintia) · Krishna Grameena Bank · Langpi Dehangi Rural Bank · Madhya Bharat Gramin Bank · Malwa Gramin Bank · Marwar Ganganagar Bikaner Gramin Bank · Mizoram Rural Bank · Nagaland Rural Bank · Parvatiya Gramin Bank · Purvanchal Kshetriya Gramin Bank · Samastipur Kshetriya Gramin Bank · Saurashtra Gramin Bank · Utkal Gramya Bank · Uttaranchal Gramin Bank · Vananchal Gramin Bank · Vidisha Bhopal Kshetriya Gramin Bank Others · SBI Home Finance Limited · The Clearing Corporation of India Limited · Bank of Bhutan Limited |
|
|
|
|
Jointly Controlled
Entities: |
· GE Capital Business Process Management Services Private Limited · C-Edge Technologies Limited · Macquarie SBI Infrastructure Management Pte. Limited · Macquarie SBI Infrastructure Trustees Limited · SBI Macquarie Infrastructure Management Private Limited ·
SBI Macquarie Infrastructure Trustees Private
Limited · Oman India Joint Investment Fund – Trustee Company Private Limited ·
Oman India Joint Investment Fund – Management
Company Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000000 |
Equity Shares |
Rs.10/- each |
Rs. 50000.000 millions |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
671128349 |
Equity Shares |
Rs.10/- each |
Rs. 6711.283 Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
671044838 |
Equity Shares |
Rs.10/- each |
Rs. 6710.448 Millions |
|
|
|
|
|
Note: [The above
includes 1,69,77,498 (Previous Year 1,81,05,360) Equity Shares represented by
84,88,749 (Previous Year 90,52,680) Global Depository Receipts]
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
CAPITAL AND
LIABILITIES |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
SHAREHOLDERS FUNDS |
|
|
|
|
Share Capital |
6710.448 |
6349.990 |
6348.826 |
|
Reserves & Surplus |
832801.610 |
643510.442 |
653143.160 |
|
|
839512.058 |
|
|
|
Deposits |
10436473.623 |
9339328.130 |
8041162.268 |
|
Borrowings |
1270055.680 |
1195689.550 |
1030116.011 |
|
Other
Liabilities and Provision |
809150.946 |
1052483.893 |
803367.040 |
|
|
|
|
|
|
TOTAL |
13355192.307 |
12237362.005 |
10534137.305 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
|
|
Cash and balances
with Reserve Bank of |
540759.386 |
943955.020 |
612908.652 |
|
Balance with Banks and Money at call and short notice |
430872.263 |
284786.457 |
248978.483 |
|
Investments |
3121976.103 |
2956005.690 |
2957851.987 |
|
Advance |
8675788.901 |
7567194.480 |
6319141.520 |
|
Fixed Assets |
54665.492 |
47641.893 |
44139.067 |
|
Others Assets |
531130.162 |
437778.465 |
351127.596 |
|
|
|
|
|
|
TOTAL |
13355192.307 |
12237362.005 |
10534147.305 |
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
INCOME |
|
|
|
|
Interests Earned |
1065214.534 |
813943.638 |
709939.175 |
|
Others Income |
143514.457 |
158245.942 |
149681.527 |
|
TOTAL |
1208728.991 |
972189.58 |
859620.702 |
|
|
|
|
|
|
EXPENDITURE |
|
|
|
|
Interests Expended |
632303.687 |
488679.561 |
473224.780 |
|
Operating Expenses |
260689.921 |
230154.326 |
203186.800 |
|
Provision and Contingencies |
198662.497 |
170710.503 |
91548.592 |
|
TOTAL |
1091656.105 |
889544.390 |
767960.172 |
|
|
|
|
|
|
PROFIT |
|
|
|
|
Net Profit for the year |
117072.886 |
82645.190 |
91660.530 |
|
Profit brought forward |
3.393 |
3.393 |
3.393 |
|
Profit and Loss Balance of e-SBI Commercial
and International Bank Limited. Transferred on Amalgamation |
57.115 |
0.000 |
0.000 |
|
TOTAL |
117133.394 |
82648.583 |
91663.923 |
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
|
|
Transfer to Statutory Reserve |
35169.772 |
24793.557 |
63810.885 |
|
Transfer to Capital Reserve |
143.769 |
96.089 |
1140.547 |
|
Transfer to Revenue and Other Reserve (Including Transfer to Investment Reserve
Account for 2009-10 Rs.40.556 Millions) |
55364.960 |
27298.659 |
5295.065 |
|
Dividend |
|
|
|
|
Interim Dividend |
-- |
-- |
6348.802 |
|
Final Dividend Proposed |
23486.569 |
19049.970 |
12697.677 |
|
Tax on dividend |
2964.931 |
2465.202 |
2367.554 |
|
Loss on Amalgamation of State Bank of Indore |
0.000 |
8941.713 |
-- |
|
Balance carried over to Balance Sheet |
3.393 |
3.393 |
3.393 |
|
TOTAL |
117133.394 |
82648.583 |
91663.923 |
|
|
|
|
|
|
Basic Earning per Shares |
184.31 |
130.16 |
144.37 |
|
|
|
|
|
|
Diluted Earnings Per Shares |
184.31 |
130.16 |
144.37 |
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2012 |
30.09.2012 |
|
|
1st Quarter |
2nd Quarter |
|
Interest Earned |
289166.900 |
296068.400 |
|
Income On Investments |
63731.900 |
67146.800 |
|
Interest On Balances With Rbi Other Inter Bank Funds |
1512.500 |
1180.100 |
|
Interest / Discount On Advances / Bills |
221346.200 |
225380.800 |
|
Others |
2576.300 |
2360.700 |
|
Other Income |
34988.000 |
33466.300 |
|
Total Income |
324154.900 |
329534.700 |
|
Interest Expended |
177978.500 |
186330.200 |
|
Operating Expenses |
64409.700 |
69668.000 |
|
Total Expenditure |
64409.700 |
69668.000 |
|
Operating Profit Before Provisions and Contingencies |
81766.700 |
73536.500 |
|
Exceptional Items |
0.000 |
0.000 |
|
Provisions and contingencies |
24563.300 |
18256.000 |
|
Profit Before Tax |
57203.400 |
55280.500 |
|
Tax |
19687.800 |
18699.100 |
|
Profit After Tax |
37515.600 |
36581.400 |
|
+/- Extraordinary Items |
0.000 |
0.000 |
|
+/- Prior period items |
0.000 |
0.000 |
|
Net Profit |
37515.600 |
36581.400 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
MANAGEMENT
DISCUSSION AND ANALYSIS
ECONOMIC BACKDROP AND BANKING ENVIRONMENT
The global economy
continued to be characterised by multi-speed growth as fiscal consolidation, private
sector deleveraging and the Euro zone crisis affected growth in advanced
economies. Emerging market economies are growing but at a slower pace than
expected earlier. Overall, conditions in the US are improving, Europe is
sliding into a mild recession, but despite slowing growth, India and China are
still likely to provide some support for global recovery.
For the Indian
economy, GDP growth in FY’12 is estimated at 6.5% against 8.4% in FY’11.
Notwithstanding this, India remained one of the fastest growing economies in
the world. India also remained a favoured destination for investment which is
reflected in increase in FDI to US$ 46.85 billion in FY’12 against US$ 34.85
billion in FY’11. NRI deposits grew substantially to US$ 11.0 billion in FY’12
from US$ 3.24 billion in FY’11, particularly after deregulation of interest
rates on NRI deposits in December 2011. Remittances from Indians working abroad
remained robust at US$ 63.7 billion in 2011, the highest among developing
countries.
During FY’12, agriculture
and services continued to perform well but industrial production particularly
in manufacturing slowed perceptibly. Investment was impacted by domestic and
global factors, which affected manufacturing activity and overall industrial
growth decelerated to 2.6% in FY’12 from 6.8% in FY’11. Good monsoons led to
increase in food grains production though the deceleration in agriculture and
allied sector GDP growth to 2.8% in FY’12 from 7.0% in FY’11 was due to high
base effect. Services sector however, remained fairly stable and grew by 8.5%
in FY’12 against 9.2% in FY’11.
On the external
front, exports grew by 21% despite slowdown in global trade. However, the trade
gap widened to $185 billion due to higher import growth at 32% led by sharp
increase in gold and oil imports. Rise in external debt was driven by increase
in external commercial borrowings, export credit and short-term debt. Increased
flows of NRI deposits also have implications for India’s external debt.
Inflation remained
a concern with average inflation at 9.6% in FY’11 moderating only slightly to
8.8% in FY’12, prompting RBI to follow a tight monetary policy. Between May and
October 2011, RBI increased the Repo rate five times from 7.25% to 8.50%. The
liquidity situation remained in deficit mode and banks were seen borrowing
under the Liquidity Adjustment Facility (LAF). To ease pressure on liquidity
and ensure adequate credit availability, RBI introduced the Marginal Standing
Facility (MSF) and cut CRR by 125 bps in two tranches of 50 bps and 75 bps from
6.0% to 4.75% during the year.
Banking
Developments
The moderation in
GDP growth following monetary tightening by RBI affected business growth of
banks, which is reflected in slowdown in their deposit and credit growth. While
deposit growth of All Scheduled Commercial Banks (ASCB) decelerated to 13.4% in
FY’12 from 15.9% FY’11 despite increase in interest rates, growth in ASCB
credit was lower at 17.0% in FY’12 than 21.5% in FY’11 reflecting slower growth
in the economy. To control inflation, RBI raised the repo rate five times
during FY’12 from 7.25% to 8.50%. Reflecting monetary transmission, interest
rates on bank deposits and credit also rose. Deposit rate of major banks for
more than one year maturity rose from 7.75-9.50% in FY’11 to 8.50-9.25% in
FY’12, and base rate of major banks rose from 8.25-9.50% to 10.0-10.75% in the
same period. Due to deceleration in growth impinging on corporate profitability
and move to system-driven identification of NPAs, non-performing assets of banks
rose during the year.
Outlook
In FY’13, the
Indian economy is expected to perform better than in FY’12. They believe GDP
growth bottomed out in Q4 FY’12 at 5.3%, and economic growth is now gaining
traction. The change in the economic environment will be led by industrial
growth, particularly in the manufacturing sector, as they believe the
Government’s New Manufacturing Policy, increased spending in the infrastructure
space and efforts to push through some large projects to kick start growth will
help improve the investment climate and attract FDI on the ground. The country
has seen record food grains harvest for the second successive year and food
grains output is likely to touch 250.40 million tonnes in FY’12, which will
have a moderating impact on food inflation. Accordingly, they have pencilled in
slightly higher GDP growth in 2012-13. To support this growth, in their view,
banking sector deposits and credit are poised to grow in tandem.
FINANCIAL PERFORMANCE
Profit
The Operating
Profit of the Bank for 2011-12 stood at Rs. 315735.400 Millions as compared to
Rs.253355.700 Millions in 2010-11 registering a growth of 24.62%. The Bank has
posted a Net Profit of Rs.117072.900 Millions for 2011-12 as compared to
Rs.82645.200 Millions in 2010-11 registering a growth of 41.66%.
While Net Interest
Income recorded a growth of 33.10%, the Other Income declined by 9.31%,
Operating Expenses increased by 13.27% attributable to higher staff cost and
other expenses.
Dividend
The Bank has declared
dividend @ `35.00 per share (350%) as against @ `30.00 per share (300%) in the
previous year.
Net Interest Income
The Net Interest
Income of the Bank registered a growth of 33.10% from Rs.325264.100 Millions in
2010-11 to Rs.432910.800 Millions in 2011-12. This was due to higher growth in
the advances and investment portfolios.
The gross interest
income from global operations correspondingly rose from Rs.813943.600 Millions
to Rs.1065214.500 Millions during the year registering a growth of 30.87%.
Interest income on
advances in India registered an increase from Rs.569609.700 Millions in 2010-11
to Rs.773091.500 Millions in 2011-12 due to higher volumes. The average yield
on advances in India increased from 9.56% in 2010- 11 to 11.05% in 2011-12.
Interest income on advances at foreign offices has also grown by 24.99%.
Income from
resources deployed in treasury operations in India increased by 22.05% mainly
due to higher average resources deployed and increase in average yield. The
average yield, which was 7.02% in 2010-11, has increased to 7.51% in 2011-12.
Total interest
expenses of global operations increased from Rs.488679.600 Millions in 2010-11
to Rs.632303.700 Millions in 2011-12. Interest expenses on deposits in India
during 2011-12 recorded an increase of 29.19% compared to the previous year,
whereas the average level of deposits in India grew by 14.31%. The average cost
of deposits has consequently increased from 5.26% in 2010-11 to 5.95% in
2011-12.
Non-Interest Income
Non-interest
income stood at Rs.143514.500 Millions in 2011-12 as against Rs.158245.900
Millions in 2010-11 registering a decline of 9.31%. During the year, the Bank
received an income of Rs.7673.500 Millions (Rs.8277.300 Millions in the
previous year) by way of dividends from Associate Banks/ subsidiaries and joint
ventures in India and abroad.
Operating Expenses
There was an
increase of 11.59% in the Staff Cost from Rs.152116.200 Millions in 2010-11 to
Rs.169740.400 Millions in 2011-12. Other Operating Expenses have also
registered an increase of 16.54% mainly due to increase in expenses on rent,
taxes and lighting, postage, telegrams and telephones, insurance and
miscellaneous expenditure.
Operating
Expenses, comprising both staff cost and other operating expenses, have
registered an increase of 13.27% over the previous year.
Provisions and Contingencies
Major amounts of
provisions made in 2011-12 were as under:
·
Rs.6637.000 Millions towards provision for depreciation
on investments, excluding amortization of premium on ‘Held to Maturity’
category (as against Rs.6467.500 Millions towards depreciation on investments
in 2010-11).
·
Rs.63200.900 Millions towards Provision for Tax,
excluding deferred tax reversal of Rs.4559.300 Millions (as against
Rs.57128.900 Millions in 2010-11 excluding deferred tax reversal of Rs.9768.200
Millions).
·
Rs.115458.500 Millions (net of write-back) for
nonperforming assets (as against Rs.87920.900 Millions in 2010-11).
·
Rs.9788.100 Millions towards Standard Assets (as
against Rs.9766.000 Millions in 2010-11). Including the current year’s
provision, the total provision held on Standard Assets amounts to Rs.42960.300
Millions.
Reserves and Surplus
An amount of
Rs.35169.800 Millions (as against Rs.24793.600 Millions in 2010-11) was
transferred to Statutory Reserves.
An amount of
Rs.143.800 Millions (as against Rs.96.100 Millions in 2010-11) was transferred
to Capital Reserve Fund.
An amount of
Rs.55365.000 Millions (as against Rs.27298.600 Millions in 2010-11) was
transferred to Other Reserve Funds.
Assets
The total assets
of the Bank increased by 9.13% from Rs.12237362.000 Millions at the end of
March 2011 to Rs.13355192.300 Millions as at the end of March 2012. During the
period, the loan portfolio increased by 14.65% from Rs.7567194.500 Millions to
Rs.8675788.900 Millions. Investments increased by 5.61% from Rs.2 956005.700
Millions to Rs.3121976.100 Millions as at the end of March 2012. A major
portion of the investment was in the domestic market in government securities
and investment in Subsidiaries and Associates.
Liabilities
The Bank’s
aggregate liabilities (excluding capital and reserves) rose by 8.01% from
Rs.11587501.600 Millions on 31st March 2011 to Rs.12515680.300 Millions on 31st
March 2012. The increase in liabilities was mainly contributed by increase in
deposits and borrowings. The Global deposits stood at Rs.10436473.600 Millions
as on 31st March 2012 against Rs.9339328.100 Millions as on 31st March 2011,
representing an increase of 11.75 % over the level on 31st March 2011.
CORE OPERATIONS
1. BUSINESS GROUPS
A. GLOBAL MARKETS OPERATIONS
Global Markets
department mainly handles the bank’s liquidity and provides foreign exchange
services to customers. In addition, it also handles compliance with reserve
requirements of RBI, provides products like derivatives, gold forwards and
portfolio management services, and handles the bank’s proprietary trading and
investment portfolio.
The liquidity
management function and debt portfolio’s performance depend significantly on
interest rate movements and system wide liquidity conditions. In fiscal year
2012, interest rates were volatile due to inflation and liquidity concerns. The
second half of the fiscal saw liquidity in the banking system tighten
significantly. Within this environment Global Markets continued to actively
manage the liquidity and optimized returns on investment.
The equity markets
continued to fall for the major part of the year prompting a strategic decision
to reduce their exposure to equities for proprietary trading and rebalance the
portfolio. They still continue to hold multiple strategic positions and remain
on the lookout for good investment opportunities to enhance returns while
maintaining a reduced risk appetite given the uncertain environment.
Being the biggest
bank of the country and its role as a market maker, the bank endeavours to
provide the best prices to corporates, ranging from the behemoths to emerging
SMEs both in the Public and Private Sector. In addition, forex treasury facilitates liquidity in the inter-bank
market.
In addition to
these, the bank also provides Indian Rupee and Foreign Exchange Derivatives to
corporate for hedging their interest rate and currency exposures, within the
regulatory stipulations.
Treasury Marketing
Group markets various treasury products offered by the Bank, to its customers
to mitigate Exchange Rate Risk / Interest Rate Risk in their exposures.
Dedicated Treasury Marketing Officers continuously engage with the customers
bringing them various inputs about markets as part of advisory services offered
by the Bank. The Bank’s forex volumes grew by 14% YoY for FY 2011-12.
Portfolio
Management Services Section of Global Markets, one of the largest fund
managers, is managing terminal benefit funds of various provident fund trusts
since 1995. It also manages investments of funds of RRBs sponsored by SBI. As
on 31st March 2012, Assets under management of Portfolio Management Section exceeded
Rs.2000000.000 Millions.
B. CORPORATE BANKING GROUP
The Bank’s
Corporate Banking Group consists of four Strategic Business Units viz.,
Corporate Accounts Group, Transaction Banking Unit, Project Finance and Leasing
SBU and Financial Institutions Business Unit.
B.1. Corporate Accounts Group (CAG)
CAG was set up in
1995 as the first Strategic Business Unit to be created under Corporate Banking
Group of the Bank. Over the years CAG has effectively met its strategic
objectives of delivering best in class Corporate Banking services to the top
most corporates in the country. Nearly five hundred such corporates deal with
CAG and the client list includes industry leaders in every segment.
A highly skilled Relationship
team and a strong delivery platform with enabling technology support lie at the
core of each CAG unit. CAG has offices in all four metros, Hyderabad and
Ahmedabad. The incumbency of Regional Head at each of the above centres has
been upgraded to the level of General Manager in line with the rising business
profile of the group and to facilitate interaction at senior level having
regard to the high profile of the CAG clients.
The total Fund and
Non-Fund limits of CAG accounts stand at Rs.5260780.000 Millions. The Fund
based outstandings grew by 15% during FY'12 from Rs.1087740.000 Millions to
Rs.1252860.000 Millions. It constitutes 16% of total domestic credit portfolio
and 31% of the C and I (Non-Food) advances of the Bank.
The Non-Fund based
outstandings at Rs.1870620.000 Millions also grew by 17% during the year. CAG’s
FOREX business at Rs.8734160.000 Millions constitutes 48% of the domestic FOREX
business of the Bank. Trade Finance (LC and BG) volumes also registered a
growth of 30% with the volumes standing at Rs.3374860.000 Millions for FY'12.
Despite slow pick up of credit and a tepid financial market that did not offer
significant scope for structured products, CAG’s operating profit grew by 31%
from Rs.98080.000 Millions to Rs.128750.000 Millions during FY'12.
About 36% of CAG’s
Fund based and Non-fund based outstandings carries the highest rating grades
from the external rating agencies. The NPA level of CAG is well contained at
0.20% of total advances as on 31st March 2012.
During the year
CAG handled several high value deals, a few of which are listed below excluding
Term loans sanctioned through PFSBU:
·
NTPC Limited.-Term Loan of Rs.100000.000 Millions
with tenor of 12 years.
·
Power Grid Corporation of India Limited.- Term Loan
of Rs.50000.000 Millions with tenor of 15 years.
·
Tata Steel Limited.- – Corporate loan of
Rs.20000.000 Millions with tenor of 5 years.
·
Bharti Airtel Limited.- – Term loan of Rs.20000.000
Millions with tenor of 6 years.
·
Adani Power Limited – Term loan of Rs.12000.000
Millions with tenor of 8.5 years
The Bank played a
strategic role in global acquisition by major Indian Groups like, Adani, JSW,
Tata etc. B.2. Transaction Banking Unit (TBU) TBU, with special focus on Cash
Management Product, Trade Finance and Supply Chain (Dealer / Vendor) Finance
has expanded its activity during the last two years.
(1) Cash Management Product (CMP)
CMP Cheque and
cash collection services in the Bank are now offered through 1133 authorized
branches located at 701 Centres, while payment services comprising Dividend
Warrants, Multi City Cheques, IOIs and e-payment are extended through all
branches. CMP Centre executed several prestigious dividend deals like Reliance
Industries Limited., TCS, Tata Motors Limited., L and T, Coal India Limited.
ONGC etc., in 2011-12. It is the Sole Refund Banker for Income Tax Department
and handled over Rs.11.100 Millions refund (Rs.366130.000 Millions) in FY
2011-12. CMP has been selected as the authorized banker for handling all UMEA
payments for 253 PAOs relating to 43 accredited Ministries and Departments and
also did the pilot.
(2) Trade Finance
SBI has been
awarded the “Best Trade Finance Bank in India” Award for 2012 by The Asian
Banker.
e-Trade SBI, a web-based online portal, has been
launched by their Bank in March 2011 to provide the means to customers access
trade finance services with speed and efficiency by enabling them to lodge
Letters of Credit, Bank Guarantees and Bills Collection/negotiation
requirements online from any corner of the world. Presently, the e-trade
platform has been introduced in all 6 CAG Branches and 63 MCG Branches and has
been well received with 393 Corporates registered under e-Trade SBI as on
31.03.2012.
(3) Supply Chain Finance
e-VFS ( Electronic
Vendor Financing Scheme) and e-DFS ( Electronic Dealer Financing Scheme) The
above products, which are fully on electronic platform, provide automated
payment and settlement of supply chain transactions as also real time MIS to
both Industrial Majors(IM) and their vendors and dealers. A total number of 64
IMs and 289 vendors and 1041 dealers across the country have been migrated to
the electronic facility under the e-VFS/e-DFS platform as on 31.03.2012.
B.3. Project Finance and Leasing SBU (PFSBU)
Project Finance
and Leasing SBU (PFSBU) focuses on funding large projects in infrastructure
sectors like power, telecom, roads, ports, airports, other urban infrastructure
as also other non-infrastructure projects in sectors like metals, cement etc.,
with certain threshold on minimum project cost.
In order to
further strengthen this specialized outfit, Bank has engaged 19 former CEOs/
Directors of leading PSUs with domain expertise in Energy, Transport, Mining,
Telecom, Metals and Fertilizer sectors to provide consultancy support in
technical areas.
During 2011-12,
PFSBU appraised and enabled funding of projects with outlay of Rs.1084680.000
Millions (Rs.3330540.000 Millions) involving debt of Rs.844080.000 Millions
(Rs.2366070.000 Millions). Sanctions accorded aggregated Rs.249760.000 Millions
(Rs.592090.000 Millions), while PFSBU took up syndication of debt of
Rs.186100.000 Millions (Rs.730820.000 Millions) with other banks.
Major sanctions
with Project Finance during 2011-12 included Neyveli Lignite Corporation
Limited (Rs.25000.000 Millions) for setting up Power plant for 1000 MW, Meja
Urja Nigam Limited (Rs.20000.000 Millions) for 1320 MW and Tata Teleservices
Limited (Rs.25000.000 Millions) for expansion of their services.
As on 31st March
2012, the portfolio of infrastructure projects under implementation with
Project Finance SBU involves Power projects to produce 57,788 MW including 399
MW from renewable sources; Telecom Projects serving 303 million subscribers;
Road projects to lay 5185 kms. of 2-lane, 4-lane and 6-lane Roads; new Ports to
handle 40 MTPA multi-purpose cargo and 1.2 million TEU of container capacity ;
Metro projects in the cities of Bangalore and Hyderabad besides a host of
projects in steel, cement, Urban Infra, CRE etc. During the year, a total (FB +
NFB) of Rs.154100.000 Millions (Rs.96700.000 Millions in FY'11) were disbursed
to these projects.
Financial Year
2011-12, saw a general decline in new investments more particularly in the
Infrastructure sector owing to higher interest rates and systemic issues. PFSBU
plays an active role in various efforts being made by Government and other
agencies to iron out the issues facing infrastructure finance.
Notwithstanding
the slowdown, 43 proposals were in pipeline with aggregate Project Cost of
Rs.695350.000 Millions and debt component of Rs.494650.000 Millions with SBI’s
Share likely to be Rs.116430.000 Millions as on 31.03.2012. When completed,
these projects will further add to the Infra story of their country.
B.4. Financial Institutions Business Unit (FIBU)
FIBU focuses on
capturing potential business opportunities from financial institutions viz.
Banks, Mutual Funds, Insurance companies, Brokerage Firms and NBFCs. Capital
Market Branch, Mumbai (CMB), a specialized branch under FIBU, is a settlement
bank for all major exchanges and CCIL. CMB has handled the settlement banking
and transaction banking needs of brokers and mutual funds and has also acted as
the Banker to the Issue and Escrow Collecting and Refund Banker to all major
IPO/FPO/NFO/Bonds Issues including NHAI, HUDCO, REC, NBCC.
Some of the major
initiatives undertaken and products launched for this segment include special
current account product for brokers, special current account product for
targeting housingsocieties / associations for mobilizing CASA, site to site
integration facility for large stock brokers, ATM sharing arrangement for RRBs
and Co-operative Banks.
Products being
developed by FIBU include collection of premium of Life Insurance Companies,
new deposit and loan products for stock brokers, etc. FIBU is focusing on
leveraging their vast network and technology to increase their market share of
CASA by offering collection, payment and remittance solutions to FI clients pan
India.
C. MID-CORPORATE
1. MCG exclusively
caters to the banking needs of the units falling under the Mid-Corporate
sector. The main purpose of creation of MCG was to improve the service levels
to the Mid-Corporate customers through improvement of the Turnaround Time (TAT)
for credit delivery and ensuring quality in credit appraisal, as well as
extension of
bank’s various products to the Mid- Corporate customers through Relationship
Management model. As at the end of 31.03.2012, the Group has expanded to 62
branches under 10 MCROs at Ahmedabad, Bangalore, Chandigarh, Chennai,
Hyderabad, Indore, Kolkata, Mumbai, New Delhi and Pune, with an asset base of
Rs.1726510.000 Millions. All Companies / firms whose annual sales / Income
exceed Rs.500.000 Millions or whose Fund Based and Non Fund Based requirements
exceed Rs100.000 Millions are covered by MCG. Facilities are extended to the
customers in the form of Cash Credit, Term Loans, FCNRB Loans, ECBs (through
their International Banking Group), Letters of credit, Bank Guarantees, Letters
of Comfort, Buyers’ Credit, Vendor Finance, Supply Chain Finance, Cash
Management Product etc., MCG encompasses the entire span of industrial
activities in all sectors like textiles, iron, steel, food, sugar, engineering,
pharmaceuticals gems and jewellery, infrastructure sector including
construction, telecom, roads, ports, power etc. as well as trade and services
sector. The aggregate business (Fund Based Assets and deposits) of the Group is
Rs.1971620.000 Millions as on 31.03.2012.
2. During 2011-12
the Group sanctioned 397 loans by way of new connections aggregating an asset
growth of Rs.144660.000 Millions, thus increasing the level of Fund-based
advances from Rs.1612080.000 Millions as on 31.03.2011 to Rs.1726510.000
Millions as on 31.03.2012. The Group recorded y-o-y growth of 39.86% by way of
Interest Income and 33.89% in operating profit. The average yield on advances
of the group stood at 11.87% as at the end of March 2012 vis-à-vis 9.88% as on
31.3.2011.
3. The Group also
extends export credit to the exporters through EPC, PCFC and EBR. The aggregate
outstanding export credit as on 31.3.2012 of the Group was Rs.193240.000
Millions. The aggregate Forex business (Sales and Purchases) of the Group as on
31.03.2012 stood at Rs.4528160.000 Millions vis-à-vis Rs.4079010.000 Millions
as on 31.03.2011. The Group also assists its customers in imports through
facilities like issue of LC / BG / LOC as well as extension of Buyers Credit
facility. Apart from this, the Group also assists Companies in India to acquire
assets / companies abroad and also funds the expansion plans of its customers
abroad through issuance of LOCs through the Bank’s International Banking Group.
Over the years, the Group has helped many such acquisitions by the companies in
USA, Europe, Australia, Africa etc.
4. In addition,
MCG has also extended Vendor Financing and Supply Chain Financing to the
industrial units to facilitate smooth achievement of their Sales targets.
5. The Staff
strength of MCG has increased marginally from 3,470 as on March 2005 to 3,806
as on 31.03.2012. The business per employee has increased over 4 times during
the same period from Rs.119.800 Millions to Rs.482.400 Millions.
6. To enable the
units to overcome the stress in their business, the Group has restructured 65
accounts aggregating Rs.31390.000 Millions during the year.
7. The Group has
also actively participated in 19 activities under Corporate Social
Responsibility programmes encompassing donations of school buses, ambulances,
cycles for orthopaedically challenged, vocational training equipments, etc.,
aggregating Rs.4.228 Millions.
D. NATIONAL BANKING GROUP (NBG)
National Banking
Group, as on 31st March 2012, comprised of 14,013 out of 14,097 domestic
branches, controlled by 14 Local Head Offices. NBG has five strategic Business
Units comprising of Small and Medium Enterprises (SMEBU), Personal Banking
(PBBU), Real Estate Habitat and Housing Development (RE-H and HD), Rural
Banking (RBU) and Government Business (GBU). NBG’s share in the total business
of the Bank as on 31.03.2012 is 94.71% in total domestic deposits(excluding
Inter-Bank) and 58.08% in total domestic advances (excluding Food and
Inter-Bank).
·
During the year, PBBU deposits have grown by
Rs.930560.000 Millions with a growth of 18.38%.
·
The CASA Ratio as on 31.03.2012 is 47.06%.
·
227 lac new Savings Bank Accounts were opened
during the year ended 31st March 2012.
·
During the year, the Bank launched a Personal
Accident Insurance Policy on a pilot basis for their Savings Bank customers at
a very competitive cost.
·
The Bank entered into a tie-up with M/s Thomas Cook
to provide Money Transfer Services Scheme (MTSS) of M/s Moneygram.
·
The Bank has been designated as the Point of
Presence (PoP) for conducting business under the New Pension Scheme (an
initiative of the Government of India).
·
The Bank is Self Certified Syndicate Member for
ASBA (Application Supported by Blocked Amount) as per SEBI guidelines, which is
being offered through 1,061 branches in India.
·
The charges on non-maintenance of Average Quarterly
Balance in Savings Bank Accounts have been waived.
·
Only Multi-city Cheques are now being issued to all
P-Segment customers with a uniform limit of Rs.0.500 Million.
NRI Services
NRI Deposits grew
by Rs.114860.000 Millions (22%) during the year and reached a level of
Rs.632630.000 Millions in March 2012. NRIs have invested in the schemes of
SBIMF and SBILIFE to the tune of Rs.20580.000 Millions during the year. ‘FCNB
Premium Account’ which was launched last year booked business to the tune of
USD 42 mn, GBP 12 mn, Euro 8 mn against USD 15 mn, GBP 2 mn and Euro 3 mn.
Corporate and Institutional Tie-Ups
The Bank now has
customized Special Salary Packages for employees of Corporates, Defence,
Para Military,
Railways, Central Government, State Governments as well as Police, which enable
a focused marketing approach. The growth in Salary Package Accounts has
generated a high level of CASA accounts.
Corporate and Institutional Tie-Ups Salary Package
Particulars 31.03.2011 31.03.2012
Education Loans
SBI Education
Loans have grown at 13.2% YoY (as on March 2012). SBI has a total exposure of
Rs.125660.000 Millions as on March 2012 and is the market leader with a market
share of approximately 25% amongst ASCB.
Personal Loans
The Personal Loans
Portfolio, grew by Rs.36910.000 Millions in FY' 12. The most notable growth was
seen in Gold Loan which grew by 51.06% in FY' 12.
Auto Loans
SBI Auto Loans maintains
its market leadership in retail car loan financing and enjoys a market share of
17.51% as on March 2012.
D2. Real Estate Habitat and Housing Development
(RE, H and HD)
Home Loan
portfolio of the Bank grew by Rs.128260.000 Millions during FY 2011-12 to
Rs.1027390.000 Millions. About Rs.0.200 Millions new Home Loan customers were
added to the portfolio during the same period. Total Home Loan limits
sanctioned during FY 2011-12 were Rs.280360.000 Millions. State Bank of India
continues to be the No.1 Home Loan player in terms of size of the Individual
Home Loan portfolio – amongst all players in the Home Loan market. State Bank
of India had a market share of over 26% in Home Loan levels achieved by
Scheduled Commercial Banks as of 31st March 2012.
FY 2011-12 saw an
uptrend in the interest rate cycle, keeping this in view the following steps
were taken to minimise the possibility of stress arising from rise in Home Loan
rates –
·
Maximum repayment tenure for new Home Loan
borrowers increased from 25 to 30 years.
·
Extension of repayment tenure up to 5 years keeping
EMI unchanged, subject to maximum tenure of 35 years.
·
Existing borrowers on floating rate loans have been
given a onetime option to switchover to current interest rates by paying a 1%
switchover fee.
A new Home Equity
product has been launched to provide existing home loan customers an option to
leverage their equity in the house to raise additional loans at low interest
rates for meeting their liquidity requirements. Furthermore, modifications have
been carried out in the Yuva Home Loan and Maxgain products to extend their
coverage, so that more customers are able to get benefitted by the schemes.
Optional Life
Insurance cover is available to Home Loan customers under SBI Suraksha. The customer
has option for selecting a suitable product from SBI Life namely, RiNn Raksha
or Smart Shield policy at payment of nominal premium. Bank provides additional
loan for payment of premium at similar terms as applicable to the underlying
Home Loan.
Technology
initiatives like dashboards for monitoring of slippages, account tracking
centres etc. have been undertaken towards management of collections and
prevention of fresh slippages. In order to strengthen Bank’s affordable housing
initiatives, consultations are underway with consultants for arriving at a
suitable methodology
for delivering
finance for affordable housing.
D3. SME Business Unit (SMEBU)
During the
financial year 2011-12, the advances under SME Business Unit has registered YoY
growth of 17.40%.
Highlights and Initiatives:
• Relationship Banking:
Under single
window approach, the Bank is offering relationship banking to SME
entrepreneurs. The strength of Relationship Managers (Medium Enterprises) was augmented
to 510 as on 31.03.2012 and mapped to ME units with credit limits Rs.10.000
Millions and above across the country. Further, to improve credit flow to Micro
and Small Enterprises a new channel of Relationship Managers (SE), was
introduced for MSE units having Credit limits between Rs.100.000 Millions to
Rs.10.000 Millions.
• Specialized SME Branches:
To provide
specialized services to SME Entrepreneurs, 400 branches having predominant
share of SME advances in their portfolio were identified for rebranding as “SME
BRANCH”.
• Credit Flow to Micro and Small Enterprises
i. Bank is
extending collateral free lending upto Rs.10.000 Millions to MSE sector under
guarantee of CGTMSE. Additionally, to provide relief to these units, the Bank
decided to absorb the guarantee charges payable to CGTMSE. To ramp up
collateral free lending to Micro and Small Enterprises, a special campaign “SME
BONANZA” was launched for a period of three months from January-March 2012.
ii. A new product
Weavers Credit Card launched for weavers.
• Project Uptech and Cluster Financing:
The Bank is
providing consultancy services to SMEs to enable them to increase productivity
and reduce costs. Since inception of the initiative, 1600 units have benefitted
in 28 clusters. During the year, a project for engineering and fabrication was
launched in Nagpur along with two ongoing projects at Jamshedpur and Trichy.
Under cluster approach 13 clusters were taken up for financing by the Circles.
• Supply Chain Finance:
Under e-DFS and
e-VFS, the Bank has tied up with 60 Industry Majors (IMs) with aggregate
business of over Rs.33250.000 Millions across all Industry Verticals like Auto,
Oil, Steel, Power, Fertilizer, FMCG and Textiles.
• Liability and Transaction Products:
·
unFIXED Deposit: The Bank launched
a new scheme for short term deposits for 7 days to less than 1 year with an
attractive feature of waiver of prepayment penalty. It met with success and we
plan to take it forward next year.
·
New process for deposit of contributions to Employees
Provident Fund Organisation (EPFO) was implemented across the country in their
7000 plus branches. Deposit of such contributions through CINB was also put in
place.
·
Service charge on payment of Multi City Cheques was
waived for SME customers.
·
Cash Pick up facility was launched across the
country for cash collection of SME customers at their door steps.
·
An Internet banking transaction product- CINB SARAL
with single user interface was launched for micro and small entrepreneurs.
·
The process of implementation of Loan Origination
Software was started for better monitoring of SME advances.
·
During the year their Bank has been conferred with
the Second Award under National Awards for Excellence in MSE Lending by
Government of India for the financial year 2010-11.
D.4 Government Business Unit (GBU)
With 58.50% market
share in Government Business, the Bank has not only retained its leadership but
also increased its market share by 70 basis points over previous year.
Bank earned a
commission income of Rs.20080.000 Millions as against Rs.19390.000 Millions
during the previous year.
·
E-Governance Project of Central and State
Governments have brought a paradigm shift in the way Government Business will
be conducted in the days to come. Integration of these projects with the Bank’s
robust Core Banking Solutions/Internet Banking platform has enabled us to
conduct Government Business efficiently and seamlessly
·
throughout the country.
·
Bank is handling pension payment to Rs.3.272
Millions pensioners through its 14 Centralized Pension Processing Cells
(CPPCs), established across the country. These cells provide efficient services
and timely payment of pension and arrears to the pensioners, leading to a
steady growth in pension accounts. From this year, pension details are being
sent to the pensioners on their registered mobile number through SMS.
·
“THIRD PARTY E-TAX”, a new product enables all
their branches to pay taxes online, on behalf of all customers/ non customers
who either do not have access to Internet Banking or are not comfortable using
it.
·
E-AUCTION Project of Indian Railways for Payment/
Registration Fee/EMD/Auction Money was successfully implemented on 06.03.2012.
·
Electronic Data Integration (EDI) Model of Fee
Collection of UPSC/SSC etc. was launched with
relevant details of the customers being auto uploaded in CBS. The
Product is also being used for collecting fee for Recruitment Boards,
Examination Fee for Colleges, Schools, State Public Service Commissions etc.
·
Fund cum Authorization Model for Social Sector
Flagship Schemes like National Literacy Mission (NLM) has been successfully
implemented by the Bank in coordination with MoHRD. Out of the 26 States
identified for implementation of the NLM Scheme, SBI is a partner in 22 States.
·
The Bank is proud to be associated with Central
Government Projects like Government e Payment Gateway (GePG). By integrating
with GePG portal, the Bank has been enabled to make electronic payments to
employees/vendors of Central Government, across the country.
·
Bank has partnered in all 77 Passport Seva Kendra
(PSK) opened by the Ministry of External Affairs (MEA).
·
Bank is providing the facility of online payment of
various taxes in most of the States and Union Territories and is expected to
become operational throughout the country in 2012-13.
D.5 RURAL BUSINESS UNIT (RBU)
AGRI BUSINESS
·
The Bank has crossed the milestone (Agri Priority
level) of Rs.1000000.000 Millions (Rs.1169100.000 Millions) by covering more than
1,00,00,000 farmers, taking Agri Priority Advances to 17.60% of Adjusted Net
Bank Credit (ANBC) as against 16.59% last year.
·
Direct Agri Advances have grown from 12.09% to
13.10% to ANBC.
·
The Bank achieved highest ever growth of
Rs.183480.000 Millions (27%) under Direct Agri against the last year’s growth
of Rs.59110.000 Millions (9%) and also achieved highest growth of Rs.220840.000
Millions under Total Agri Priority advances against last years growth of
RS.106750.000 Millions.
·
The Bank has disbursed credits aggregating to
Rs.532140.000 Millions in FY’ 12 and financed Rs.1.331 Millions new farmers
during this year.
Other Highlights
·
The Bank has extended advances to the tune of
Rs.713820.000 Millions as on 31.03.2012 to the weaker sections, which is 10.75%
of ANBC against the benchmark of 10 % set by Reserve Bank of India.
·
Against GoI stipulated target of 15% of the total
Priority Sector Lending (PSL) to Minority Communities, the Bank has achieved a
level of 16.17% as on 31.03.2012.
·
Special focus has been given for creation of
efficient Warehouses and Cold Storages in line with GoI’s policy for augmenting
storage capacity.
·
During the year 199 villages were adopted under
“SBI Ka Apna Gaon Scheme” taking the total to 1,063 villages and 220 Farmers Clubs
were formed taking the total to 10,047 Farmers Club.
·
Under the guidance of Ministry of Rural Development
(MoRD), GoI, the Bank has set up 106 Rural Self Employment Training Institutes
(RSETIs) as on 31.03.2012 in the allotted districts across the country;
conducted 4,186 training programmes, trained 1,11,049 candidates and helped to
settle 45,285 trainees.
·
The Bank has opened 133 new branches in
under-banked/unbanked areas in Minority Community Districts(MCDs) taking the
total number of such branches to 3,266 as on 31.03.2012.
·
The Bank has infused additional capital amounting
to Rs.1256.400 Millions to 9 identified RRBs to enable them to achieve ‘Capital
to Risk Weighted Assets Ratio (CRAR)’ of at least 9% by March 2012 on a
sustainable basis.
·
All the 2,960 branches of SBI sponsored RRBs have
migrated to CBS platform in order to provide better customer service.
Micro Finance:
The Bank is the
market leader (market share around 25.55%) in SHG-Bank Credit Linkage programme
having credit linked so far Rs.2.073 Millions SHGs (Rs.0.179 Million SHGs
credit linked during FY 11-12) and disbursed loans to the extent of
Rs.178370.000 Millions (cumulative) up to 31.03.2012. Under the scheme for
financing NGOs / MFIs for on-lending to SHGs, the Bank has covered 174 units
with outstanding of Rs.9270.000 Millions as on 31st March 2012.
Micro Insurance product – Grameen Shakti has been introduced and 1.14 million
lives have been covered.
KYC/AML/CFT Measures
The Bank has put
in place the Board approved revised policy on Know the Customer (KYC) / Anti
Money Laundering (AML) / Combating Financing of the Terrorism (CFT) measures in
line with Master Circular issued by Reserve Bank of India on the subject.
Monitoring of
Transactions is done with a view to submit various reports to Financial
Intelligence Unit-India mandated by rules of Prevention of Money Laundering
Act, 2002.
The Bank has
decided to observe 1st August every year as “KYC Compliance and Fraud Prevention day” to maintain appropriate
awareness and involvement levels across the Bank as also to create proper
understanding of KYC issues among the members of public.
E. INTERNATIONAL BANKING
E-1 Operation of Foreign Offices
The asset level of
foreign branches rose by 12%, from USD 32.04 bn in March 2011 to USD 35.826 bn
in March 2012. During FY’12, net customer credit grew by 9% from USD 24.525 bn
to USD 26.681 bn, customer deposits grew by 15%, from USD 10.490 bn to USD
12.075 bn and net profit rose by 21%, to USD 396 mn.
Overseas Expansion
The number of
foreign offices increased from 156 as on 31st March 2011 to 173 as on 31st
March 2012 spread across 34 countries. The offices comprised 50 branches, 8
Representative Offices, 103 offices of the six foreign banking subsidiaries and
12 other offices.
Resource Management
Despite widespread
risk aversion and volatile market conditions, the Bank’s foreign offices
maintained comfortable liquidity position. The Bank has a USD 10 bn Medium Term
Note (MTN) programme in place under which the outstanding at the close of
FY-2012 was USD 4.43 bn. Under the MTN programme USD 200 mn (Rs.10175.000
Millions) was raised by way of reverse inquiries. The Bank was able to redeem
bonds worth USD 800 mn (Rs.40700.000 Millions) without having any impact on the
liquidity at its foreign offices.
The Bank raised
USD 460 mn funds through Syndication Arrangement for three years at a
competitive pricing of 145 basis points over 3 months LIBOR in June 2011.
During the fiscal the Bank also raised a sum of USD 367.08 mn (Rs.18675.200
Millions) by way of bilateral loans of different maturities.
Remittance
Remittances grew
from Rs.463960.000 Millions in FY’11 to Rs.614570.000 Millions in FY’12,
clocking a growth of 32%. The Bank had a tie-up with 26 exchange companies and
four banks in Middle-East countries for routing remittances through SBI. During
the year, new remittance products like SBI Rupee Instant, SBI Express WorldWide
were launched to boost remittances business.
E-2. Domestic Operations
Merchant Banking
The Bank retained
the leadership as Mandated Lead Arranger and Book Runner for syndicated loans
in Asia Pacific (excluding Japan but including Australia) for the year ended
March 2012.
During the year,
fourteen high value transactions for financing ECB requirements of Indian
Corporates, as well as their acquisition related financing requirements
aggregating USD 4758 mn, were syndicated successfully with a participation of
USD 1423 mn. Apart from this, a large number of bilateral deals aggregating USD
2190 mn were also concluded with Indian Corporates.
A fee income of
USD 86 mn was earned from syndications and bilateral deals concluded during the
year.
Global Link Services (GLS)
In the year
2011-12, GLS on behalf of domestic branches, handled 1,09,413 export bills and
1,09,086 foreign currency cheque collections aggregating USD 13.36 billion. In
addition, it handled 58,53,632 inward remittances
transactions
amounting to USD 5.89 billion from various centres in the Middle East, UK and
USA.
Correspondent Relations
The Bank maintains
correspondent banking arrangement with 476 reputed International Banks to
extend seamless services to varied clients. These correspondent Banks are
located in 118 countries. The Bank also has 1,871 Relationship Management
Application (RMA) arrangements with SWIFT, facilitating speedier flow of
financial messages.
Country Risk and Bank Exposures
The Bank has in
place Country Risk Management Policy in tune with RBI guidelines. The policy
outlines robust risk management model with prescriptions for Country, Bank,
Product and Counter party exposure limits. Both Countrywise and Bank-wise
exposure limits are monitored and reviewed on a regular basis. The exposure
ceilings and classifications are moderated in line with the dynamics of their
risk profiles. Periodical corrective steps are initiated to safeguard the
Bank’s interests.
ASSOCIATES AND SUBSIDIARIES
The State Bank Group
with a network of 20193 branches including 5096 branches of its five Associate
Banks dominates the banking industry in India. In addition to banking, the
Group, through its various subsidiaries, provides a whole range of financial
services, which include Life Insurance, Merchant Banking, Mutual Funds, Credit
Card, Factoring, Security trading, Pension Fund Management, Custodial Services,
General Insurance (Non Life Insurance) and Primary Dealership in the Money
Market.
CROSS SELLING
The large network
of branches of the State Bank Group is being leveraged to deliver products of
SBI Life Insurance Company, SBI Mutual Fund, SBI Card, SBICap Securities
Limited., SBI General and other third party companies having tie-up
arrangements with the Bank, thereby offering a wider range of financial
products to their customers.
During the year,
the Bank covered Rs.0.593 Million lives under various schemes of SBI Life
Insurance. ‘Rinn Raksha’, a Group insurance product was made available for all
retail borrowers. Also, for encouraging investment among small investors, the
Bank distributed the ‘SIP (Systematic Investment Plan)’ product by which middle
income group customers can invest regularly in the Mutual Funds. A total of
Rs.0.199 Million customers were covered in the year under the scheme. ‘SBI
General’, the Bank’s non-life insurance JV, rolled out 46 products designed to
meet various needs of SME and Retail clients. The ‘Personal Accident Insurance’
cover for savings bank account holders of the Bank has been rolled out by ‘SBI
General’, as a pilot, in Mumbai and Ahmedabad Circles. An over the counter
payment option has been extended to SBI Card customers, thus making the company
the industry leader in payment options.
1 Associate Banks
SBI’s five
Associate Banks had a market share of 6.02% in deposits and 6.05% in advances
as on the last Friday of March 2012.
Important Developments during the year in
Associates and Subsidiaries:
·
A total of 10,20,670 equity shares of SBI Global
Factors Limited. were sold by SBI to SIDBI on 30.11.2011 at a consideration of
`32/- per share (FV `10/- and premium `22/-) bringing down the stake of SBI
from 86.82% to 86.18%. This was part of the Rights Issue of SBIGFL which was
subscribed by SBI, pending SIDBI receiving approval for this investment.
·
SBICAP Ventures Limited. bought back 9,38,000
(18.39% of total shares) at `12.26 per share- `1,14,99,880/-.
·
An amount of Rs.5850.000 Millions, as equity, was
infused in SBBJ by SBI in April, 2011, representing its 75% share in the Rights
Issue.
·
SBICI Bank Limited. was acquired by SBI on
29.07.2011. As a result, the shareholding of SBI in SBBJ went up from 75% to
75.07%, as the stake of SBICI Limited. in SBBJ has now come into the books of
SBI.
2 SBI Capital Markets Limited (SBICAP)
SBICAP is a full
service investment banking outfit offering Project Advisory Services,
arrangements for Structured Finance, Capital Market Services like Equity
Issuances, Mergers and Acquisitions and arrangement for Private Equity, etc.
SBICAP is a leader in India in Project Finance, with over 40% market share.
The following are some of the many awards /
recognitions won by the Company during the year:
·
Ranked No 1 Mandated Lead Arranger for Project Finance
Loans for Global Asia Pacific by Project Finance International (PFI).
·
Ranked No 1 Mandated Lead Arranger for Project
Finance Loans for Global by Dealogic.
·
Ranked No 1 Financial Advisor for Loans for Asia
Pacific by Dealogic.
·
Ranked No1 Loans Mandated Arranger for Asia Pacific
Ex- Japan by Bloomberg.
·
Ranked No 1 Loans Book Runner for Asia Pacific
Ex-Japan by Bloomberg.
·
Ranked No 1 Qualified Institutional Placements in
India by Bloomberg.
·
Ranked No1 in Rights Issues in India by PRIME.
·
Ranked No 1 in Public Issues of Bonds in India by
PRIME.
SBICAP on
standalone basis posted a PBT of Rs.4926.600 Millions (before fee sharing)
during the FY 2011-12 as against Rs.5793.500 Millions earned in FY 2010-11 and
a PAT of Rs.2509.800 Millions in FY 2011-12 as against a PAT of Rs.3747.200
Millions for FY 2010-11.
SBICAP and its 4
subsidiaries posted a PBT of Rs.5136.800 Millions (before fee sharing) during
the FY 2011-12 as against Rs.5938.900 Millions earned during FY 2010-11, and a
PAT of Rs.2653.000 Millions in FY 2011-12 as against Rs.3845.600 Millions in FY
2010-11. The profits are lower due to the dampened activity in Capital Markets.
2.1 SBICAP Securities Limited (SSL)
SSL, a wholly
owned subsidiary of SBI Capital Markets Limited., besides offering equity
broking services to retail and institutional clients both in cash as well as in
Futures and Options segments, is also engaged in Sales and Distribution of
other financial products like Mutual Funds, etc. SSL has 89 branches and offers
Demat, e-broking, e-IPO and e-MF services to both retail and institutional
clients. SSL currently has more than Rs.0.252 Million customers on their books.
The Company posted a profit of Rs.40.300 Millions during the FY 2011-12 as
against a PAT of Rs.45.900 Millions during the FY 2010-11. The profits are
lower on account of subdued Capital Markets.
2.2 SBICAPS Ventures Limited (SVL)
SVL is a wholly
owned subsidiary of SBI Capital Markets Limited. SVL earned a net profit of
Rs.2.300 Millions during 2011-12 as against Rs.5.600 Millions in 2010-11.
2.3 SBICAP (UK) Limited. (SUL)
SUL is a wholly
owned subsidiary of SBI Capital Markets Limited. During the year, SUL booked a
revenue of Rs.92.900 Millions and posted a net profit of Rs.48.200 Millions
during FY 2011-12, as against Rs.2.000 Millions during FY 2010-11, despite the
global recessionary scenario.
SUL is positioning
itself as a Relationship outfit for SBI Capital Markets in UK and Europe.
Relationships are being built with FIIs, Financial Institutions, Law Firms,
Accounting Firms, etc to market the business products of SBICAP.
2.4 SBICAP Trustee Company Limited. (STCL)
STCL, a wholly
owned subsidiary of SBI Capital Markets Limited., which commenced security
trustee business with effect from 1st August 2008, has earned a Gross
Income of Rs.116.200 Millions and a Net Profit of Rs.58.600 Millions during
2011-12, as against Gross Income of Rs.83.100 Millions and Net Profit of
Rs.44.300 Millions during 2010-11.
3 SBI DFHI Limited (SBI DFHI)
·
SBI group holds a 71.56% share in the Company,
which is a primary dealer to support the book building process in Primary
Auctions and to provide depth and liquidity to secondary markets in G-Secs.
·
For the period ended 31st March 2012, the Company’s
PAT was Rs.435.000 Millions as against Rs.569.400 Millions earned during FY
2010-11. The profit is lower because of the high interest regime leading to
higher MTM provisions.
·
The market share of SBIDFHI amongst market
participants has increased from 3.41% as on 31.03.2011 to 4.34 % as on 31.03.2012.
·
The secondary market turnover during the year was
Rs.1516800.000 Millions as against Rs.978850.000 Millions during the
corresponding period in 2011 (YoY growth of 55%).
4 SBI Cards and Payments Services Private. Limited.
(SBICPSL)
·
SBICPSL, the only stand-alone credit card issuing
company in India, is a joint venture between State Bank of India and GE Capital
Corporation, wherein SBI holds a 60% stake.
·
The “Cards in Force” (CIF) of the Company stood at
Rs.2.225 Millions as at 31st March 2012. The average receivables stood at
Rs.21780.000 Millions as at the end of March 2012, as against Rs.17950.000
Millions at the end of March 2011.
·
The Company posted a net profit of Rs.3790.000
Millions as on March 2012 as against Rs.71.000 Millions earned during the year
ended March 2011.
5 SBI Life Insurance Company Limited (SBILIFE)
·
SBI Life is Joint Venture Company between SBI and
BNP Paribas Cardiff, in which SBI holds a 74% stake.
·
SBI Life has a unique multi-distribution model
comprising Bancassurance, Retail Agency and Institutional Alliances and Group
Corporate Channels for distribution of insurance products.
·
The Gross Premium of the Company crossed
Rs.130000.000 Millions.
·
SBI Life has a market share of 19.9% in respect of
New Business Premium (NBP) amongst Private Life Insurers The overall market
share (including Life Insurance Corporation of India) of SBI Life in terms of
NBP stood at 5.7% as on 31st March 2012.
·
In NBP, SBI Life’s ranking improved to the FIRST
position amongst Private Life Insurers during FY 2011-12 from the Second
position during FY 2010-11.
·
SBI Life recorded a PAT of Rs.5558.000 Millions as
on 31.03.2012 as against Rs.3663.000 Millions as on 31.03.2011 recording a YoY
growth of 51.73%.
·
The ‘Assets under Management’ of SBI Life recorded a
growth of 16% YoY to reach Rs.465760.000 Millions as on 31st March
2012.
·
SBI Life expanded its branch network by adding 85
branches during the year bringing the total number of branches to 714.
·
ICRA has reaffirmed its iAAA rating to the company
indicating highest claim paying ability.
·
CRISIL has reaffirmed its highest financial rating
of AAA/ Stable.
The following are some of the awards / recognitions
received by the Company during 2011-12:
·
Winner of ‘NDTV Profit Business Leadership Award’
twice in a row, 2011 and 2010.
·
Awarded the Most Trusted Private Life Insurance
Brand 2011 by The Economic Times, Brand Equity Most Trusted Brand Survey.
·
Won IMC Ramkrishna Bajaj National Quality Awards
2011 - Certificate of Merit.
·
Winner of ‘ICAI Award for Excellence in Financial
Reporting’ for FY 10 – 11.
·
Winner of ‘Best Presented Accounts Award’ by SAFA.
·
SBI Life leads globally at Million Dollar Round
Table (MDRT) 2011.
6. SBI Funds Management (P) Limited. (SBIFMPL)
·
SBIFMPL, the Asset Management Company of SBI Mutual
Fund, is the 6th largest Fund House in terms of average “Assets Under
Management” and is a leading player in the market with 6 million investors.
·
The Annual Rankings have improved for almost all
Equity Schemes.
·
The schemes of the Fund House have performed
consistently over the years, and have emerged as the preferred investment for
investors.
·
The company has posted a PAT of Rs.605.200 Millions
during FY 2011-12.
·
The average “Assets Under Management” (AUM) of the
company for Jan-Mar 2012 quarter stood at Rs.420420.000 Millions as against
Rs.416720.000 Millions during Jan-Mar 2011 quarter.
The following are some of the awards / recognitions
received by the Company during 2011-12:
·
Nominated for Best Fund House of the Year in Fixed
Income Category - Bloomberg UTV Awards.
·
Nominated amongst 3 Best Funds in Ultra Short Term
Fund and Liquid Fund Category- CRISIL CNBC Award.
·
Won 5 awards at ICRA Award Ceremony.
7. SBI Global Factors Limited. (SBIGFL)
·
SBIGFL is one of the leading factoring companies in
India which has the highest market share in domestic as well as export and
import factoring.
·
During the year ended 31st March 2012, the turnover
of the company increased to Rs.90140.000 Millions from Rs.76050.000 Millions as
on 31st March 2011, registering a YoY growth of 18.53%.
·
The company incurred a loss of Rs.667.800 Millions
during the year ended 31.03.2012 as against a loss of
·
Rs.1256.200 Millions incurred during the year ended
31.03.2011. The Company has turned around and has started making operating
profits since Sept 2011.
8. SBI Pension Funds Private. Limited. (SBIPF)
·
SBIPF is one of the three Pension Fund Managers
(PFM) appointed by Pension Fund Regulatory and Development Authority (PFRDA)
for management of Pension Funds under the National Pension System (NPS) for
Central Government (except Armed Forces) and State Government Employees.
·
PFRDA has appointed 4 more PFMs for the informal
sector under the NPS.
·
SBIPF, a wholly owned subsidiary of the State Bank
Group, commenced operations from April 2008. The total “Assets Under
Management” of the company as on 31st March 2012 were Rs.60220.000 Millions
(YoY growth of 60 %).
·
The Company maintained its lead position amongst
the 7 Pension Fund Managers in terms of AUM, for both the organized and
Informal sectors.
·
The overall AUM market share in the Informal sector
was 52.31%, while in the organized sector it was 39.41%.
·
The Company recorded a net loss of Rs.3.345
Millions during the FY 2011-12 mainly on account of lower interest management
of fee (0.0009% of AUM).
9. SBI General Insurance Company Limited. (SBIGIC)
·
SBIGIC is a joint venture between State Bank of
India and IAG Australia, in which SBI holds a 74% stake.
·
SBIGIC has completed its second year of full
operations during FY 2011-12.
·
Gross Written Premium stood at Rs.2500.000 Millions
(including Rs.109.400 Millions of re-insurance) as at 31st March 2012.
·
The Company recorded a net loss of Rs.953.500
Millions as against the estimated loss of Rs.1352.000 Millions during the FY
2011-12 and a loss of Rs.268.200 Millions was incurred during the FY 2010-11.
·
SBIGIC has a multi-distribution model comprising
Bancassurance, Agents, Broker and Direct Channels for distribution of insurance
products.
10. SBI SG Global Securities Services Private. Limited.
(SBISG)
·
SBISG, a joint venture between State Bank of India
and Societe Generale of France, was set up to offer high quality custody and
fund administration services to complete the bouquet of financial services on
offer by a financial conglomerate.
·
SBISG commenced commercial operations in Custody in
May 2010 and Fund Accounting Services in Sept 2010.
·
The Company recorded a net profit of `24.71 lacs
during the FY 2011-12 as against a net loss of `137.47 lacs during the FY
2010-11.
·
The Assets Under Custody as on 31st March 2012
stood at Rs.286594.700 Millions while the Assets Under Administration were at
Rs.426713.500 Millions.
INFORMATION WITH REGARD TO SUBSIDIARIES and JOINT
VENTURES AS ON 31.03.2012
A. Domestic
Banking Subsidiaries
PRESS RELEASES Q1FY 2013
SBI STAND ALONE
RESULTS
HIGHLIGHTS
• Net Profit increased
from Rs.15830.000 Millions in Q1FY12 to Rs.37520.000 Millions in Q1FY13 (137%
YOY growth)
• Operating
Profit increased from Rs.72420.000 Millions in Q1FY12 to Rs.81770.000
Millions in Q1FY13 (12.90%YOY growth).
• Capital
Adequacy Ratio of the Bank increased from 11.60% (Tier I: 7.60%) in June 11
to 13.17% (Tier I: 9.38%) in June 2012 (157 bps YOY growth).
• Net Interest
Income increased from Rs.96990.000 Millions in Q1FY12 to Rs.111190.000
Millions in Q1FY13 (14.63%YOY growth).
• Total Income increased
from Rs.277320.000 Millions in Q1FY12 to Rs.324150.000 Millions in Q1FY13 a
growth of 16.89%.
PROFITABILITY
Q1 FY13 OVER Q1
FY12
• Total
Interest Income increased from Rs.241970.000 Millions in Q1FY12 to
Rs.289170.000 Millions in Q1FY13 (19.50%YOY growth).
• Interest
Income on Advances increased from Rs.182560.000 Millions in Q1FY12 to Rs.
221350.000 Millions in Q1FY13 (21.24%YOY growth).
• Interest
Income on Resource Operations increased from Rs.55800.000 Millions in
Q1FY12 to Rs.65240.000 Millions in Q1FY13 (16.92%YOY growth).
• Total
Interest Expenses increased from Rs.144980.000 Millions in Q1FY12 to Rs.
177980.000 Millions in Q1FY13 (22.76%YOY growth).
• Interest
Expenses on Deposits increased from Rs.127560.000 Millions in Q1FY12 to Rs.
159570.000 Millions in Q1FY13 (25.09%YOY growth).
• Net Interest
Income increased from Rs.96990.000 Millions in Q1FY12 to Rs. 111190.000
Millions in Q1FY13 (14.63%YOY growth).
• Operating
Expenses increased from Rs.59910.000 Millions in Q1FY12 to Rs. 64410.000
Millions in Q1FY13 (7.50%YOY growth).
• Staff
Expenses increased from Rs.39170.000 Millions in Q1FY12 to Rs.41370.000
Millions in Q1FY13 (5.62%YOY growth).
• Loan Loss
Provisions has increased from Rs.27820.000 in Q1FY12 to Rs.27900.000 in
Q1FY13 Millions.
DEPOSITS
• Deposits of
the Bank increased from Rs.9500720.000 Millions in June 11 to Rs.11029260.000
Millions in June 12 a growth of 16.09%.
• Savings Bank
deposits increased from Rs.3443870.000 Millions in June 11 to
Rs.3904100.000 Millions in June 12 (13.36% YOY growth) .
ADVANCES
• Gross Advances
increased from Rs.7881530.000 Millions in June 11 to Rs.9458190.000 Millions in
June 12 (20.00% YOY growth).
• Credit Deposit
Ratio (Domestic) increased from 76.68% in June 11 to 77.75% in June 12, an
increase of 107 bps.
• Large Corporate
advances increased from Rs.1141220.000 Millions in June 11 to Rs.1415330.000
Millions in June 12 (24.02%. YOY growth).
• Mid-Corporate
Advances increased from Rs.1577560.000 Millions in June 11 to Rs.1677560.000
Millions in June 12 (6.34% YOY growth).
• Retail advances
increased from Rs.1651310.000 Millions in June 11 to Rs.1863220.000 Millions in
June 12 (12.83% YOY growth).
_ Home loans
increased from Rs.932250.000 Millions in June 11 to Rs.1053830.000 Millions in
June 12 (13.04% YOY growth).
_ Auto Loans
increased by 22.53% YOY and Education Loans increased by 10.97% YOY
• SME Advances increased
from Rs. 1232490.000 Millions in June 11 to Rs.1343190.000 Millions in June 12
(8.98%YOY growth).
• Agri advances
increased from Rs.954520.000 Millions in June 11 to Rs.1201300.000 Millions in
June 12 (25.85% YOY growth).
• International
advances increased from Rs.1107120.000 Millions in June 11 to Rs.1643080.000
Millions in June 12 (48.41% YOY growth).
ASSET QUALITY:
|
(%) |
Gross NPA |
Net NPA |
PCR |
|
Mar 11 |
3.28 |
1.63 |
64.95 |
|
June 11 |
3.52 |
1.61 |
67.25 |
|
Sep 11 |
4.19 |
2.04 |
63.50 |
|
Dec 11 |
4.61 |
2.22 |
62.52 |
|
Mar 12 |
4.44 |
1.82 |
68.10 |
|
June 12 |
4.99 |
2.22 |
64.29 |
KEY FINANCIAL
RATIOS:
• Return on Assets
(ROA) has increased to 1.03% in June 12 as against 0.50% in June 11.
• Cost to income ratio
improved to 44.06% in June 12 from 45.27% in June 11.
• Average Cost of
Deposits increased from 5.66% in June 11 to 6.24% in June 12 (58 bps YOY
growth).
• Yield on
Advances increased from 10.43% in June 11 to 10.86 in June 12 (43 bps YOY
growth).
PERFORMANCE OF
ASSOCIATES AND SUBSIDIARIES:
• Operating Profit
of Associate Banks increased from Rs.17350.000 Millions in Q1FY12 to
Rs.22300.000 Millions in Q1FY13 (28.56% YOY growth), while Net Profit is up by
28.85%
• The SBI Life
Insurance Company Limited has posted a profit after tax of Rs. 1630.000
Millions a YOY growth of 13.2%.
• SBI Funds
Management Private Limited registered a profit after tax of Rs.260.000 Millions
(YOY growth of 36%).
• SBI Group
Operating Profit for Q1FY13 at Rs.108420.000 Millions is up by 17.26% from
Rs.92460.000 Millions in Q1FY12, while Net Profit is up to Rs. 48750.000
Millions as compared to Rs.25120.000 Millions in Q1FY12 a growth of 94.02%.
Details of Profit
and Loss account for stand alone are as follows:
|
|
Q1FY12 |
Q1FY13 |
Growth (%) -Q1FY13 Over Q1FY12 |
|
Interest on Advances |
18256 |
22135 |
21.24 |
|
Int. on Resources Operations |
5580 |
6524 |
16.92 |
|
Other Interest Income |
361 |
258 |
(28.65) |
|
Total Interest income |
24197 |
28917 |
19.50 |
|
Interest Expenses |
14498 |
17798 |
22.76 |
|
Net Interest Income |
9699 |
11119 |
14.63 |
|
Non-Interest Income |
3534 |
3499 |
(1.00) |
|
Operating Income |
13234 |
14618 |
10.46 |
|
Staff Expenses |
3917 |
4137 |
5.62 |
|
of which : Payment to Employees |
3164 |
3456 |
9.24 |
|
Contribution for Employees |
753 |
681 |
(9.59) |
|
Overhead Expenses |
2074 |
2304 |
11.07 |
|
Operating Expenses |
5991 |
6441 |
7.50 |
|
Operating Profit |
7242 |
8177 |
12.90 |
|
Total Provisions |
5659 |
4425 |
(21.80) |
|
Income Tax |
1502 |
1969 |
31.08 |
|
Loan Loss |
2782 |
2790 |
0.31 |
|
Investment Depreciation |
1048 |
(521) |
(149.68) |
|
Standard Assets |
288 |
169 |
(41.28) |
|
Other Provisions |
39 |
17 |
(55.30) |
|
Net Profit |
1583 |
3752 |
136.91 |
Mumbai: Within days of the Reserve Bank massively increasing the export refinancing limits of banks, State Bank of India Wednesday said it will soon bring down interest rates on loans to exporters.
"We will surely cut lending rates to exporters following the RBI enhancing
export credit refinance limit to 50 percent in the policy review. However, the
quantum of the reduction will be decided by our Alco (asset liability
committee) meeting, which will be held next Saturday," SBI Chairman Pratip
Chaudhuri said.
When asked about the impact of the RBI move on liquidity, Chaudhuri said it will have some impact in future, but did not say how much.
The Reserve Bank on Monday, while leaving the key interest rates and cash
reserve requirements of banks unchanged at its mid-quarter review, enhanced
liquidity to exporters by increasing the refinancing limits of the outstanding
rupee export credit for banks called export credit refinance (ECR) to 50
percent from 15 percent.
The move, which the RBI claimed was a 0.50 percent indirect Cash Reserve Ratio
(CRR) cut, will release Rs 300000.000 Millions into the system, thereby increasing
the overall liquidity conditions.
Banks on an average have been borrowing nearly Rs 0.100 Millions from the RBI daily due to
tight money supply conditions.
"With a view to enhancing the credit flow to the export sector, it has
been decided to enhance the eligible limit of the ECR facility for banks
(excluding RRBs) from 15 percent of outstanding export credit eligible for
refinance to 50 percent, effective fortnight beginning June 30. This will
provide additional liquidity support to banks of over Rs 300000.000 Millions,"
RBI said in its mid-quarterly policy review.
The interest rate charged on the ECR facility is equivalent to the repo rate, which
is currently 8 percent. The move will provide some kind of leeway to banks to
borrow up to Rs 300000.000 Millions.
It may be recalled that SBI had last Friday announced up to 3.5 percent cut in
lending rates to top-rated corporates, SMEs and farm loan borrowers but not for
individuals, effective June 1.
Announcing massive rate cuts, SBI Managing Director and Group Executive,
national banking, A Krishna Kumar had said the bank would be reprising advances
to the tune of 0.50-3.50 percent but left the base rate unchanged at 10
percent.
Interest rates for borrowers under agriculture segment were brought down by
0.75-3.50 percent in view of the need for credit flow to sustain the growth, he
said.
Direct and indirect farm borrowers with limits above Rs.2.500 Millions
and up to Rs.1000.000 Millions would be offered finer rates to encourage credit flow to
the priority sector.
Jan 31 2012
3:11PM-State Bank of India issues press release on BSE
The following is the text of a press release issued by State Bank of India:
State Bank of India has informed BSE that the Executive Committee of Central
Board (ECCB) of the Bank, in its meeting held on January 31, 2012, has accorded
its approval under section 5(2) of the SBI Act, to increase the issued capital
of the Bank by way of preferential allotment of equity shares to Government of
India ("GoI") of such number of equity shares of Rs. 10 each for cash
at a price to be determined by the ECCB in accordance with the SEBI (Issue of
Capital and Disclosure Requirements) Regulations 2009, aggregating to the
extent of approximately Rs. 79000.000 Millions (including premium), to achieve
minimum 8% Tier I CAR for the year by March 31, 2012, pursuant to the approval
from the Reserve Bank of India and GoI for the increase in issued capital, in
accordance with section 5(2) of the State Bank of India Act, 1955.
2, the date of the General Meeting of the Banks shareholders to obtain their
approval for the above preferential allotment of shares to GOI and the relevant
date for the purpose of determining the price will be announced later.
SBI STAND ALONE
RESULTS
HIGHLIGHTS
·
Net Profit increased from Rs.82650.000 Millions in FY11
to Rs.117070.000 Millions in FY12 (41.66% YOY growth)
·
Operating Profit increased from Rs.253360.000 Millions in
FY11 to Rs.315740.000 Millions in FY12 (24.62%YOY growth).
·
Capital Adequacy Ratio of the Bank
increased from 11.98% (Tier I: 7.77%) in Mar 11 to 13.86% (Tier I: 9.79%) in
Mar 2012 (188 bps YOY growth).
·
Net Interest Income increased from
Rs.325260.000 Millions in FY11 to Rs.432910.000 Millions in FY12 (33.10%YOY
growth).
·
Net Interest Margin (Whole Bank)
increased from 3.32% in FY11 to 3.85% in FY12 (53 bps YOY growth). Domestic NIM
increased from 3.63% in FY11 to 4.17% in FY12.
·
Dividend of Rs.35 per share (350%) proposed for the
year ended 31st March 12.
PROFITABILITY
Q4 FY12 OVER Q4
FY11
Total Interest
Income increased from Rs.217210.000 Millions in Q4FY11 to Rs.285830.000
Millions in Q4FY12 (31.59%YOY growth) with a sequential growth of 3.13%.
Interest Income on
Advances increased from Rs.162570.000 Millions in Q4FY11 to Rs. 221410.000
Millions in Q4FY12 (36.20%YOY growth).
Interest Income on
Resource Operations increased from Rs.53050.000 Millions in Q4FY11 to
Rs.63070.000 Millions in Q4FY12 (18.88%YOY growth).
Total Interest
Expenses increased from Rs.136630.000 Millions in Q4FY11 to Rs.169920.000
Millions in Q4FY12 (24.36%YOY growth) with a sequential growth of 4.92%.
Interest Expenses
on Deposits increased from Rs.119430.000 Millions in Q4FY11 to Rs.148220.000
Millions in Q4FY12 (24.10%YOY growth).
Net Interest
Income increased from Rs.80580.000 Millions in Q4FY11 to Rs.115910.000 Millions
in Q4FY12 (43.84%YOY growth) with a sequential growth of 0.63%.
Net Interest
Margin increased from 3.07% in Q4FY11 to 3.89% in Q4FY12, ( YOY growth of 82
bps).
Non Interest
Income increased from Rs.48150.000 Millions in Q4FY11 to Rs.53760.000 Millions
in Q4FY12 (11.66%YOY growth).
Operating Expenses
increased
from Rs.67940.000 Millions in Q4FY11 to Rs.73710.000 Millions in Q4FY12
(8.50%YOY growth).
Staff Expenses increased from
Rs.44610.000 Millions in Q4FY11 to Rs.47490.000 Millions in Q4FY12 (6.45%YOY
growth).
Loan Loss
Provisions is Rs.28370.000 in Q4FY12 against Rs.32640.000 Millions in Q4FY11
(13.08%YOY decline).
FY12 OVER FY11
·
Interest Income on Advances increased from
Rs.599760.000 Millions in FY11 to Rs.810780.000 Millions in FY12 (35.18%YOY
growth).
·
Interest Income on Resources Operations increased from
Rs.200620.000 Millions in FY11 to Rs.24300 0.000 Millions in FY12 (21.12%YOY
growth).
·
Interest paid on deposits increased from
Rs.432350.000 Millions in FY11 to Rs.556440.000 Millions in FY12 (28.70%YOY
growth).
·
Non Interest Income decreased from Rs.158250.000
Millions in FY11 to Rs.143510.000 Millions in FY12 (9.31%YOY decline).
·
Staff Expenses increased from Rs.152130.000 Millions in
FY11 to Rs.169740.000 Millions in FY12 (11.59%YOY growth).
·
Total provisions increased from Rs.170710.000 Millions in
FY11 to Rs.198660.000 Millions in FY12 (16.37%YOY growth). Major heads as
follows:
·
Loan loss provisions increased from
Rs.87920.000 Millions, in FY11 to Rs.115460.000 Millions (31.32% YOY growth).
·
Provisions on Investment depreciation increased
from Rs.6470.000 Millions in FY11 to Rs.6640.000 Millions in FY12 (2.62%)
DEPOSITS
·
Deposits of the
Bank increased from Rs.9339330.000 Millions in FY11 to Rs.10436470.000 Millions
in FY12 a growth of 11.75%.
·
Savings Bank deposits increased
from Rs.3233940.000 Millions in Mar 11 to Rs.3598470.000 Millions in Mar 12
(11.27% YOY growth) .
ADVANCES
·
Gross Advances increased from
Rs.7718020.000 Millions in Mar 11 to Rs.8936130.000 Millions in Mar 12 (15.78%
YOY growth).
·
Credit Deposit Ratio (Domestic)
increased from 76.3% in Mar 11 to 78.5% in Mar 12, an increase of 220 bps.
·
Large Corporate advances increased from
Rs.1087410.000 Millions in Mar 11 to Rs.1250230.000 Millions in Mar 12 (14.97%.
YOY growth).
·
Mid-Corporate Advances increased from
Rs.1575660.000 Millions in Mar 11 to Rs.1676390.000 Millions in Mar 12 (6.39%
YOY growth).
·
Retail advances increased from
Rs.1645760.000 Millions in Mar 11 to Rs.1824270.000 Millions in Mar 12 (10.85%
YOY growth).
·
Home loans increased from Rs.899130.000
Millions in Mar 11 to Rs.1027390.000 Millions in Mar 12 (14.26% YOY growth).
·
Auto Loans increased by 20.94% YOY and
Education Loans increased by 13.20% YOY
·
SME Advances increased from Rs.
1196760.000 Millions in Mar 11 to Rs.1391750.000 Millions in Mar 11(16.29%YOY
growth).
·
Agri advances increased from
Rs.948260.000 Millions in Mar 11 to Rs.1169100.000 Millions in Mar 11 (23.29%
YOY growth).
·
International advances increased from
Rs.1093580.000 Millions in Mar 11 to Rs.1357240.000 Millions in Mar 12 (24.11%
YOY growth).
ASSET QUALITY:
|
(%) |
Gross NPA |
Net NPA |
PCR |
|
Mar
11 |
3.28 |
1.63 |
64.95 |
|
June
11 |
3.52 |
1.61 |
67.25 |
|
Sep
11 |
4.19 |
2.04 |
63.50 |
|
Dec
11 |
4.61 |
2.22 |
62.52 |
|
Mar
12 |
4.44 |
1.82 |
68.10 |
KEY FINANCIAL
RATIOS:
·
Return on Assets (ROA) has increased to 0.88% in
Mar 12 as against 0.71% in Mar 11.
·
Cost to income ratio improved to 45.23% in Mar 12
from 47.60% in Mar 11.
·
Average Cost of Deposits increased from 5.26% in
Mar 11 to 5.95% in Mar 12 (69 bps YOY growth).
·
Yield on Advances increased from 9.56% in Mar 11 to
11.05% in Mar 12 (149 bps YOY growth).
·
Interest spreads have increased by 80 bps in Mar
12.
Performance of
Associates and Subsidiaries:
·
Operating Profit of Associate Banks increased from
Rs.75690.000 Millions in FY11 to Rs.82140.000 Millions in FY12 (8.53% YOY
growth).
·
The SBI Life Insurance Company Ltd has posted a
profit after tax of Rs. 5560.000 Millions a YOY growth of 52%.
·
SBI Cards and Payment Services Pvt. Ltd’s Profit
after tax increased to Rs.380.000 Millions a YOY growth of 434%.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 54.34 |
|
|
1 |
Rs. 86.97 |
|
Euro |
1 |
Rs. 69.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
10 |
|
PAID-UP CAPITAL |
1~10 |
10 |
|
OPERATING SCALE |
1~10 |
10 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
10 |
|
--PROFITABILIRY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
10 |
|
--CREDIT LINES |
1~10 |
10 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
87 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.