STATE BANK OF INDIA
State Bank of India (SBI) is an Indian multinational, public sector banking and financial services statutory body with headquarters in Mumbai. SBI is the 43rd largest bank in the world and ranked 221st in the Fortune Global 500 list of the world’s biggest corporations of 2020, being the only Indian bank on the list. The State bank of India is the 10th most reputed company in the world according to Forbes. It is a public sector bank and the largest bank in India with a 23% market share by assets and a 25% share of the total loan and deposits market. It serves over 44 crore customers through its vast network of over 22,000 branches, 58,500 ATMs, and 66,000 BC outlets.
The Bank has successfully diversified businesses through its 11 subsidiaries i.e SBI General Insurance, SBI Life Insurance, SBI Mutual Fund, SBI Card, etc. It has spread its presence globally and operates across time zones through 233 offices in 32 foreign countries. In March 2020, State Bank of India (SBI), India’s largest lender, raised US$ 100 million in green bonds through private placement.
In the year 2008, SBI decided to become a single very large bank by merging the associate banks and by 2017 all the mergers were completed. In 2020, SBI acquired 48.2% of the shares of Yes Bank as part of RBI directed rescue deal.
For the quarter ended 31-03-2021, the company has reported a Consolidated Total Income of Rs 1,03,430.64 Crore, up 6.42% from last quarter Total Income of Rs 97,182.15 Crore and up 9.77% from last year same quarter Total Income of Rs 94,218.82 Crore. Company has reported net profit after tax of Rs 7,270.25 Crore in latest quarter. CASA ratio as of March 31, 2021, stood at 46.13% compared to 45.16% as of March 31, 2020. As of March 31, 2021, Net NPA ratio at 1.50% is down by 73 bps YoY, Gross NPA ratio at 4.98% is down by 117 bps YoY, NII up 12.9% YoY for FY21, even as deposits growth outpaced credit growth, due to better resources and asset quality management. The Board of Directors decided to recommend a Final Dividend @ Rs. 4 per equity share of Re. 1/- each for the financial year 2020-21.
The results of Q4 were rectitude.
