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Revenue
₹11,74,69,38,00,000 Cr
verified against source
Revenue YoY
—
reported change
EBITDA
Pending
latest reported figure
Source
nse xbrl
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
SBI delivered a strong Q4 FY24 with robust asset quality and capital position. Net NPA improved 10 bps to 0.57%, while PCR stood at 91.89%. Credit cost was a low 0.29%. Management guided for loan growth of 13%-15% in FY25, supported by a CET1 ratio of 10.36% (highest since Basel III). Staff cost is expected to rise by ~INR 6,000 crore annually due to wage revision, but overall cost-to-income ratio should improve via income growth. The bank aims to maintain NIM around current levels (~3.4%). Key risks include potential RBI provisioning norms on project loans and elevated competitive intensity in corporate lending. Management expressed confidence in absorbing any regulatory changes given strong provision buffers.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects overall loan book to grow 13%-15% in FY25, with corporate segment growing around 16%.
- Additional staff cost due to wage revision is estimated at ~INR 500 crore per month, totaling ~INR 6,000 crore annually.
- Management expects net interest margin to remain stable around 3.4%, with marginal 5-6 bps variation.
- Management reiterated credit cost guidance of 50 bps, though internal target is to keep it as low as possible.
Risks flagged
- RBI's discussion paper on higher provisioning for project loans could increase credit costs, though management believes it can be absorbed.
- CASA ratio declined 280 bps due to shift to term deposits; current account growth was only 2% YoY, pressuring margins.
- Intense competition from private and public sector banks may pressure yields and loan growth in the corporate segment.
- Management left open the possibility of raising equity if loan growth exceeds 21%, which could dilute existing shareholders.
Key quotes
- Our net NPA ratio has also improved by 10 basis points and stands at 0.57%.
- We can easily grow about INR 7 trillion worth of loan book. Today, we stand at about INR 37 trillion as a loan book, so which actually translates to about 21% kind of a growth.
- Our effort and endeavor would be to maintain NIMs around this level only.
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