Sbi Q1 Results 2023 Expected Date
Contents
What is SBI quarterly results?
SBI Q4 Results: PAT zooms 83% YoY to Rs 16,695 crore; NII up 29% India’s largest bank State Bank of India (SBI) reported an 83% growth in standalone net profit at Rs 16,695 crore for the quarter ended March. It was Rs 9,113 crore in the same quarter last year.
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: SBI Q4 Results: PAT zooms 83% YoY to Rs 16,695 crore; NII up 29%
What is the operating profit of SBI?
The Board declared a dividend of Rs 11.30 per equity share (1130%) for the financial year ended March 2023. The date of payment is fixed on June 14. – SBI Q4 Results: PAT zooms 83% YoY to Rs 16,695 crore; NII up 29% India’s largest bank State Bank of India ( SBI ) reported an 83% growth in standalone net profit at Rs 16,695 crore for the quarter ended March. It was Rs 9,113 crore in the same quarter last year.
The Board declared a dividend of Rs 11.30 per equity share (1130%) for the financial year ended March 2023. The date of payment is fixed on June 14. Net interest income for the fourth quarter rose 29% to Rs 40,393 crore, compared with Rs 31,198 crore in the corresponding quarter of last year. Both net profit and NII were above ET Now poll estimates.
The poll saw profit around Rs 15,000 crore and NII at Rs 40,000 crore. Provisions (other than tax) and contingencies fell sharply by 54% to Rs 3,316 crore for the quarter under review against Rs 7,237 crore a year ago. The state-owned lender also more than halved its provisions for non-performing assets (NPAs) at Rs 1,278 crore during the January-March period.
- On the asset quality front, gross NPA ratio improved to 2.78% as of March quarter, down from 3.14% in December quarter and 3.97% in the March quarter of last year.
- However, net NPA ratio was lower at 0.67% in the fourth quarter.
- It was 0.77% in third quarter and 1.08% in the year-ago quarter.
- The bank’s operating profit for the March quarter rose 25% year-on-year to Rs 24,621 crore.
The domestic net interest margin (NIM) during the quarter increased 44 basis points YoY to 3.84%. The provision coverage ratio (PCR) of the Bank was at 76.39%, improving by 135 bps YoY, while PCR including AUCA improved by 171 bps YoY and stands at 91.91%.
- Slippage Ratio for the fourth quarter was at 0.41%.
- Capital adequacy ratio (CAR) at the end of FY23 stood at 14.68%.
- Credit cost for for Q4FY23 at 0.16%, improved by 33 bps YoY.
- On the business front, the Bank posted credit growth of 16% at Rs 32.69 lakh crore as of March 2023, of which corporate loans grew 12% YoY and retail personal loans rose 18% YoY.
Deposits, meanwhile, jumped 9% year-on-year to 44.23 lakh crore at the end of March quarter. For the full fiscal year, SBI’s net profit crossed Rs 50,000 crore. The profit was Rs 50,232 crore in FY23, showing a growth of 58% year-on-year. NII for the full year rose 20% year-on-year and operating profit for FY23 was up 11% year-on-year at Rs 83,713 crore.
- On Thursday, SBI stock was trading 1.07% lower at Rs 580 apiece on NSE.
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Who will get SBI dividend 2023?
Dividend stock: State Bank of India or SBI share price witnessed heavy selling pressure during early morning deals on Wednesday even though, the SBI stock is trading ex-dividend today. SBI share price today opened downside and went on to hit intraday low of ₹ 579 apiece levels on NSE, logging more than 2 per cent dip in early morning session.
History of State Bank of India’s Dividend payments
| Ex/EFF DATE | TYPE | RECORD DATE |
|---|---|---|
| 31/05/2023 | CASH | 31/05/2023 |
| 25/05/2022 | CASH | 26/05/2022 |
| 03/06/2021 | CASH | 04/06/2021 |
| 26/05/2017 | CASH | 30/05/2017 |
What is the profit of SBI in 2023?
Net profit increased 83% to ₹16,695 crore in the quarter ended March 2023 from ₹9,114 crore a year ago. It crossed the ₹50,000-crore mark for FY23, the first time annual profit for any bank in India crossed that level. – Agencies Besides retail growth, Khara said the bank also expects demand from renewable sectors like solar power, EVs and infra sectors like roads, ports and aviation for a 10% to 12% corporate loan growth this fiscal. Mumbai: State Bank of India ( SBI ) reported record net profit in the quarter ended March 2023 led by strong loan demand and falling provisions as the bank’s asset quality improved to the best in at least three years.
- Net profit increased 83% to ₹16,695 crore in the quarter ended March 2023 from ₹9,114 crore a year ago.
- It crossed the ₹50,000-crore mark for FY23, the first time annual profit for any bank in India crossed that level.
- Chairman Dinesh Khara said favourable macroeconomic conditions like healthy bank credit growth and moderating commodity prices will help SBI maintain the momentum in the current fiscal year.
“This has been a record year in terms of profits. Next year, we expect credit growth to be 12% to 14%. We have ₹4 lakh crore of excess SLR so (want of) deposits is not a factor in loan growth. We have a pipeline of ₹1.5 lakh crore of corporate loans and another ₹1.80 lakh crore of sanctions waiting to be disbursed,” Khara said.
- The bank’s credit growth increased 16% led by a 20% growth in loans from foreign offices and 18% growth each in retail and SME advances.
- Corporate loans grew 13% year-on-year.
- Strong loan growth was reflected in a solid 29% growth in net interest income (NII), which increased to ₹40,393 crore.
- Loan growth was supported by expansion in net interest margins (NIMs), which improved 44 basis points to 3.84% in March 2023.
The strong revenue growth helped make up for the 27% rise in operating expenses, which included higher provisions for wage revisions effective from November 2022, technology, mobile banking and deposit insurance premium related expenses. Asset quality continued to improve as gross NPA ratio at 2.78% fell to the lowest in a decade. Khara said the bank is confident of maintaining its asset quality. “Our efforts will be to maintain this current trend. We have significantly improved our underwriting standards, oversights and follow-ups even in SME loans, which is now part of our DNA,” Khara said.
- The fall in NPAs resulted in total provisions halving to ₹3,316 crore in March 2023, contributing to profit.
- Hara said the bank is well equipped to deal with any impact on its balance sheet if the RBI implements expected credit loss-based provisions.
- Besides retail growth, Khara said the bank also expects demand from renewable sectors like solar power, EVs and infra sectors like roads, ports and aviation for a 10% to 12% corporate loan growth this fiscal.
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SBI Share Price Target for the years 2023-2030 – All these share price target tables are based on technical analyses, personal experience and expert opinions. So, rest easy, and check below, the share price target for 2023 to 2030.
| Year | Low (INR) | Average (INR) | High (INR) |
|---|---|---|---|
| 2023 | 590.80 | 612.20 | 629.30 |
| 2024 | 750.30 | 880.20 | 930.20 |
| 2025 | 920.20 | 1080.70 | 1125.40 |
| 2026 | 1230.60 | 1320.90 | 1450.80 |
| 2027 | 1590.40 | 1720.10 | 1875.60 |
| 2028 | 1910.90 | 2190.80 | 2280.90 |
| 2029 | 2210.50 | 2430.60 | 2550.60 |
| 2030 | 2610.90 | 2980.40 | 3150.70 |
What is the highest profit of SBI?
Here are the key highlights from SBI’s earnings report card –
Rise in Profit: SBI recorded a remarkable 83 percent year-on-year (YoY) increase in net profit, surpassing market estimates. The bank’s net profit rose from Rs 9,113 crore in the corresponding quarter of the previous financial year to Rs 16,694 crore. Additionally, for the entire financial year 2022-23, SBI achieved a profit of Rs 50,232 crore, a substantial rise from Rs 31,675 crore in 2021-22. This marks SBI’s highest-ever quarterly and yearly profit. Net Interest Income (NII) Growth: The bank witnessed a significant growth in net interest income, which is the difference between interest earned and spent. The NII for the quarter rose by 29.5 percent to Rs 40,392 crore, compared to Rs 31,197 crore in the previous fiscal year. Improvement in Asset Quality: SBI showcased notable improvement in asset quality during the financial year 2022-23. The bank’s gross non-performing assets (GNPA) declined to Rs 90,027 crore from Rs 1.12 lakh crore in the previous year. The GNPA ratio for the fourth quarter decreased to 2.78 percent from 3.97 percent in the year-ago period, marking the lowest GNPA ratio for the bank in a decade. Moreover, net non-performing assets (NNPA) decreased to Rs 21,466 crore in the March quarter, down from Rs 27,965 crore, and the NNPA ratio slipped to 0.67 percent from 1.02 percent in the year-ago period. Segment Growth: SBI witnessed growth across various segments in the March quarter. The treasury segment revenue increased to Rs 28,470 crore, showing growth from Rs 24,098 crore in the year-ago period. The corporate and wholesale banking operations also expanded, reaching Rs 29,505 crore from Rs 19,825 crore on a YoY basis. The retail banking segment, which includes digital banking, exhibited significant growth, with revenue rising to Rs 48,091 crore compared to Rs 38,075 crore in the previous year. Deposit Growth: SBI’s deposits experienced a healthy YoY growth of 9.19 percent. Notably, current account and savings account (CASA) deposits grew by 4.95 percent YoY. As of March 31, 2023, the CASA ratio stood at 43.80 percent.
Also Read: RBI expects banks to completely stop using LIBOR by July Find More News Related to Banking
What is the target of SBI in 2023?
Conclusion – SBI, one of the largest banks in India, was established on July 1, 1955. Its headquarters is situated in Mumbai. SBI is a listed company, appearing on both BSE and NSE. This post discusses the SBI Share Price Target for the years 2023, 2024, 2025, and 2030.
State Bank Of India has not announced any Bonus Issue since 2018.
State Bank of India Share Price Target 2050 – Minimum Share Price will be ₹4119.361 and maximum share price will be ₹4238.272. SBI Share price target will be ₹4178.816 for the year 2050.
| YEAR | State Bank of India Share Price Target |
| 2050 | ₹4119.361 to ₹4238.272 |
What is the best dividend stock for 2023?
9 high-dividend stocks
| Ticker | Company | Dividend Yield |
|---|---|---|
| ARLP | Alliance Resource Partners, L.P. | 14.98% |
| SRV | NXG Cushing Midstream Energy Fund | 13.78% |
| VOC | VOC Energy Trust | 13.65% |
| NLY | Annaly Capital Management, Inc. | 12.66% |
When ITC dividend will be credited 2023?
ITC shares to trade ex-dividend on May 30. Do you own any? The shares of cigarettes to hotels conglomerate ITC Ltd on Tuesday will trade ex-dividend. ITC shares hit a record high on Monday as the stock gained nearly 2 per cent to hit a fresh 52-week high of ₹ 451.75 apiece on BSE before closing at ₹ 449.10 per share.
declared a final of ₹ 6.75 per share and a special dividend of ₹ 2.75 per share of Re 1 each for the quarter ended March 2023, The conglomerate fixed the record date for the dividend as Tuesday, May 30, 2023, and the dividend shall be paid to entitled shareholders of the company on or before 17 August 2023.
ITC had declared an interim dividend of ₹ 6 in February 2023, thus taking the total dividend for the financial year ended 31 March, 2023 to Rs15.50 per ordinary share of ₹ 1 each. FMCG major ITC Ltd reported an 22.7 per cent year-on-year rise in its consolidated net profit to ₹ 5,225.02 crore for the quarter ended March 2023 (Q4FY23),
The cigarette maker had reported a profit of ₹ 4259.68 crore in the year-ago period. Revenue from operations (excluding excise duty) for the company went up 5.6 percent YoY to ₹ 16,398 crore from ₹ 15,531 crore in the year-ago period. Both topline and bottomline beat analysts’ estimates. The company’s consolidated total income for the quarter under review stood at ₹ 19,667.94 crore from ₹ 18,252.64 crore in the year ago period.
Following the results, ITC shares rallied to hit an all-time high on Monday. The stock has gained nearly 35 per cent so far this year after gaining over 66 percent in 2022. On Monday, the shares of ITC closed at ₹ 451.75 apiece on BSE Catch all the,, Events and Updates on Live Mint.
What is the long term target of SBI?
State Bank of India has an average target of 737.58. The consensus estimate represents an upside of 19.63% from the last price of 616.55. Reco – This broker has downgraded this stock from it’s previous report. Target – Broker has maintained previous recommendation but reduced share price target.
What is the long term target of SBI Life?
View 34 reports from 9 analysts offering long term price targets for SBI Life Insurance Company Ltd SBI Life Insurance Company Ltd. has an average target of 1495.38. The consensus estimate represents an upside of 15.68% from the last price of 1292.65.
The lender’s momentum will remain healthy as utilisation levels improve, while retail growth is likely to remain steady, analysts estimate. SBI shares have been lackluster so far in 2023. The scrip has fallen 7 percent on a year-to-date basis, while it jumped 31 percent in the last one year.
Analysts are positive about the country’s largest lender State Bank of India (SBI) stock as the bank’s asset quality performance has been strong and the outlook remains healthy. The lender has delivered a strong performance in financial year (FY) 2022-23, propelled by steady business or revenue growth and controlled provisions.
The bank’s momentum will remain healthy as utilisation levels improve, while retail growth is likely to remain steady, said analysts. At 12:02 pm, the scrip was trading 0.74 percent lower at Rs 567.05 a share in Monday’s afternoon deals. The stock fell nearly 1 percent to hit an intra-day low of Rs 565.9 on NSE as against Friday’s closing price of Rs 570. SBI shares have been lackluster so far in 2023. The scrip has fallen 7 percent on a year-to-date basis, while it jumped 31 percent in the last one year. SBI shares are trading 10 percent lower from its 52-week high of Rs 629.65, hit on December 15, 2022.
What is the future of SBI?
Future Plans Of SBI – Already aware that most banking services are going digital, SBIs adopted the digital transformation through their own app, called YONO. The application already has over 111 million downloads. The application has several features, including UPI payments, and pre-approved personal loans.
- The bank has made account opening quicker and more efficient, by introducing video KYC, where customers can open accounts conveniently.
- This feature has been used to open 6.4 lakh accounts as of March 2022.
- SBI isn’t just the biggest PSU bank in India.
- They’re also India’s biggest home loan lender and to make the process of loan application easy, they introduced Retail Loan Management Solution (RLMS) and a Vendor Verification Module (VVM).
Their application YONO is being marketed for the growth of SBI’s home loan business. SBI’s insurance subsidiary, SBI Life Insurance, is still among the top insurers with fierce competition from private insurers. It witnessed a growth of 23.4 percent in total new business premiums, whereas its industry grew 12.9 percent.
What will be the target price of SBI?
Analysts see the stock in Rs 700-770 range – Brokerages continue to maintain their bullish stance on SBI after the March quarter results. The consensus recommendation from analysts for the stock is a ‘Buy’ in the range of Rs 700-770 over the next few months.
Their price targets suggests a potential 35 percent upside over Friday’s low of Rs 569.75 levels. Here’s what brokerage recommend on the stock: Morgan Stanley: Overweight | Target: Rs 715 Morgan Stanley has an ‘overweight’ rating on the stock, with a target price of Rs 715 per share. Profit after tax above estimate helped by higher margin, lower credit costs and high treasury gains.
Loan growth remained strong at 17 percent on-year. The brokerage has raised its FY24 earnings estimate, led by lower credit costs. JPMorgan: Overweight | Target: Rs 720 JPMorgan has an ‘overweight’ rating on the stock, with a target price of Rs 720 per share.
- Net income was 11 percent ahead driven by lower provisions.
- Operating profit was in-line with expectations, the brokerage said.
- Domestic loan growth was at 16 percent was higher than system.
- Only negative was elevated capex.
- Prabhudas Lilladher: Buy | Target: Rs770 The domestic brokerage has retained a ‘buy’ on the counter with a target price of Rs 770.
“Although core PPoP for Q4 missed PLe by 8.5 percent due to surge in opex, asset quality was better with GNPA at 2.78 percent led by lower net slippages. Loan growth guidance for FY24E has been tempered down to 12-14 percent and retail would drive accretion.
- SBI would not resort to hiking deposit rates as bank carries excess SLR of Rs 4 lakh crore with cushion on LDR (72.3 percent),” it said.
- ICICI Securities: Buy | Target: Rs 730 The brokerage has maintain ‘Buy’ with a target price of Rs 730.
- Ey risks, as per the brokerage, included sharp deceleration in credit growth, and higher than expected credit costs.
First Published: May 19, 2023 11:48 AM IST
Multibagger stock in making? Four factors why SBI shares can touch Rs 750 in a year Shares of (SBI) are expected to touch the Rs 750 mark in a year, according to estimates by brokerage KRChoksey. The stock of the country’s largest bank has already gained 229% in three years and risen 29% in a year.
- However, the SBI stock is down 7.14% in 2023.
- In the current session, SBI shares were trading marginally higher at Rs 570.30 on the BSE.
- Market cap of the bank stood at Rs 5.08 lakh crore on BSE.
- Total 1.14 lakh shares changed hands amounting to a turnover of Rs 6.49 crore on BSE.
- The SBI stock hit a 52 week high of Rs 629.65 on December 15, 2022 and a 52 week low of Rs 430.80 on June 20, 2022.
Till date, the stock has gained 32.5% from its 52-week low. In terms of technicals, the relative strength index (RSI) of SBI stands at 39.8, signaling it’s trading neither in the overbought nor in the oversold zone. SBI stock has a one-year beta of 1.2, indicating very high volatility during the period.
SBI shares are trading higher than the 50 day, 100 day and 200 day moving averages but lower than 5 day and 20 day moving averages. Here’s a look at four factors which KR Choksey mentioned while assigning a buy call with a target price of Rs 750 on SBI.1.) The lender has a diversified range of products and services through its various branches and outlets, joint ventures, subsidiaries and associate companies.
The bank serves as a benchmark for the Indian economy because it is the market leader in the Indian banking industry, said the brokerage.2. The bank is well-capitalized to handle any additional risk on its portfolio due to uncertainty. SBI’s asset quality has steadily improved over the years.
- The fall in slippages has been sharp for the bank, owing to strong recoveries and upgrades.
- We expect the slippages to remain moderate in the upcoming quarters.3.
- The bank’s largest segment is retail and digital banking in terms of the loan portfolio.
- The bank expects there tail lending segment to be strong, aided by robust growth in the Xpress credit segment.4.
SBI has positioned itself as one of the best-in-class players in the liability franchise market. With strong brand equity and abroad presence in India through its branches,the bank has a robust customer base for its deposits. SBI will continue to aim at increasing the CASA ratio with an improved focus on the current account growth and, simultaneously, maintain its leadership position in the savings and overall deposits.
- Last week, State Bank of India said it will raise up to Rs 50,000 crore by issuance of debt instruments to Indian and overseas investors in the current financial year.
- SBI said that the central board has accorded approval for raising funds in INR and / or any other convertible currency by issue of debt instruments including but not limited to Long Term Bonds, Basel III compliant Additional Tier 1 Bonds, Basel III compliant Tier 2 Bonds, up to an amount of Rs 50,000 crore (Rupees Fifty Thousand Crores only) through private placement mode to Indian and/or Overseas investors during FY24.
SBI reported a sharp year-on-year (YoY) rise in its fourth-quarter profit during the financial year 2022-23 (FY23). Q4 profit surged 83.18 per cent to Rs 16,694.51 crore against Rs 9,113.53 crore in the same period a year ago. Sequentially, the lender recorded a 17.52 rise in its March 2023 quarter profit.
The bank earned Rs 92,951.06 crore as interest income in Q4 FY23 against Rs 70,733.25 crore in the year-ago period. The lender also announced a dividend of Rs 11.30 per equity share. The bank’s Board has declared a dividend of Rs 11.30 per equity share (1,130%) for the financial year ended March 31, 2023.
Also read: Also read: Published on: Jun 16, 2023, 2:54 PM IST Posted by: Tarab Zaidi, Jun 16, 2023, 1:47 PM IST : Multibagger stock in making? Four factors why SBI shares can touch Rs 750 in a year
What is quarterly result in stock market?
Quarterly results are known from the quarterly reports that companies generate at the end of every three months in their financial year. It is an unaudited summary of financial statements that also includes comparative analysis of the previous quarter and year’s figures.
What is q3 results of SBI cards?
SBI Cards and Payment Services on Tuesday reported 32% year-on-year (YoY) rise in net profit to Rs 509.46 crore for the quarter ended December 31, 2022. It had reported a net profit of Rs 385.77 crore in the same quarter a year ago. Meanwhile, its net interest income (NII) for the quarter grew 26.39% to Rs 1,609 crore from Rs 1,273 crore in the same quarter of 2021, whereas total income stood at Rs 3,656 crore against Rs 3,140 crore for Q3FY22.
The company’s RoAA surged 4.8% YoY and RoAE increased 22% YoY in the third quarter of 2022. Net NPAs as on December 31, 2022, reduced to 0.80% against 0.83% as on December 31, 2021. Gross NPA stood at 2.22% in Q3FY23, against 2.40% in Q2FY23. Total gross advances (credit card receivables) as on December 31, 2022, were Rs 38,626 crore, against Rs 31,281 crore as on March 31, 2022.
The new account volume increased 62% YoY to 1,634k in Q3FY23, against 1,008k accounts in Q3FY22. Meanwhile, card-in-force grew by 21% to 1.59 crore as of Q3 FY23 compared to 1.32 crore as of Q3 FY22. As per the capital adequacy norms issued by the RBI, the company’s capital-to-risk ratio consisting of Tier-I and Tier-II capital should not be less than 15% of its aggregate risk-weighted assets on balance sheet and of the risk-adjusted value off-balance sheet items.
As on December 31, 2022, the company’s CRAR was 23.3% compared to 24.2% as of December 31, 2021. The Tier-I capital in respect of an NBFC-ND-SI, at any point of time, can’t be less than 10%. SBI Card’s Tier-I capital was 20.6% as of December 31, 2022, compared to 21.3% as of December 30, 2021. Shares of SBI Cards fell up to 4.6% to Rs 731.6 in Tuesday’s trade on BSE.
SBI Cards and Payment Services is a non-banking financial company that offers an extensive credit card portfolio to individual cardholders and corporate clients, which includes lifestyle, rewards, travel & fuel and banking partnerships cards along with corporate cards covering all major cardholders’ segments in terms of income profile and lifestyle.
The brand has a wide base of over 15 million cards in force as of Q3 FY23. (What’s moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets, Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds,) Download The Economic Times News App to get Daily Market Updates & Live Business News.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
Does SBI give quarterly interest?
According to the savings bank account rules, ‘Interest will be calculated on a daily product basis. Interest will be credited to the account at quarterly intervals. Interest will be paid only if works out to Rs.1/- or more.
What is SBI Q2 results 22?
SBI Q2 results 2022: The State Bank of India has reported highest ever quarterly net profit at ₹13,265 crores.
