SBI Group Net Profit for Q1FY10 at Rs. 2759 crores, up by 68.11 %
Mumbai, July 30, 2009:
3. PERFORMANCE OF ASSOCIATES AND SUBSIDIARIES
Net Profit of Group is up from Rs. 1641 crores in Q1FY09 to Rs. 2759 crores in Q1FY10, a growth of 68.11%. Non Interest Income is up by 141%. The ratio of other income to operating income is up from 34.41% in Q1FY09 to 54.40% in Q1FY10.
Associate banks’ net profit is Rs. 686.69 crores as on June 2009 (Rs 264.94 crores as on June 2008), growth of 159.19% YOY.
SBI Life Gross income at Rs 4588 crores shows a YOY growth of 893%. New premium collected is Rs. 1568 crores as against Rs 1385 crores in June 2008.
SBI Life tops the list for New Business premium among the private sector life insurance companies, improving its position from the 3rd rank in the same period last fiscal, with a market share of 23.76% amongst private insurers as on 30.06.2009.
SBI Life posted a net profit of Rs.39 crores as against a loss of Rs.50 crores as on 30.06.2008.
SBI MF’s AUM as on June ’09 stood at Rs. 34,061 crores (ranked 6th) with a growth of 29 % over March 2009 and PAT of Rs. 14.14 crores in Q1FY 10.
SBI CAPS profit as on June 2009 Rs 48.18 crores, a YOY growth of 11.30%.
• Maintained 1st rank in India League Tables 2009 second quarter, by Bloomberg
• Ranked 1st by Thomson Reuters in India League Tables half year ended 2009
• Ranked 1st by Dealogic in India League Tables half year ended 2009.
SBI Factors: net profit of Rs. 14.72 crores in Q1FY10 YOY, growth of 76%.
GTF: net profit of Rs. 14 crores in Q1FY10.
SBI Factors and GTF together form the largest factoring company in India.
SBI DFHI has registered a growth of 46.86% in Gross Income with a profit of Rs.35 crores in Q1FY10. The Company has been assigned “Issuer Rating of “Ir-AAA” by ICRA Ltd, denoting highest credit quality.
4. RECENT AWARDS AND RECOGNITION:
SBI has been adjudged the overall ‘Winner’ for India in Asia Money’s Forex Poll of Polls 2009.
On 25th July 2009 SBI has been awarded under the “Financial Express Best Banks” category “The Best Banker of the year award 2008”.
The Bank has won IDRBT Banking Technology Excellence Award – 2008 under “Best use of IT for Customer Service in Semi-urban and rural areas” category.
Voted as “The Best Domestic Provider of FX Services” (2nd year in a row) & “The Best Domestic Provider of Single Bank Electronic Trading Platform” By Asia Money.
We are among the top 100 banks in the world. Ranked 8th in top 25 banks in Asia.
Awarded the “Bank of the Year 2008 – India” by The Banker Magazine, London.
Bagged two prestigious awards from Indian Banks Association and TFCI for
Best IT architecture
Rural banking initiatives.
Ranked # 1 in Survey of top 5 companies in India in terms of financial reputation by Wall Street Journal Asia.
Awarded the Financial Services Developer Award for Central Plan Scheme Monitoring System (CSPMS).
The Reputation Institute, US has ranked SBI 29th.
Economic Times announced on 17th June 2009, Brand Equity Most Trusted Brand 2009.
Another area where the media has lauded the Bank has been its counter-cyclic recruitment. At a time when the lay-off fears were high, SBI went out and successfully completed the largest recruitment exercise in the banking sector anywhere in the world by recruiting 33,703 staff during FY09.
<<< GO TO FIRST PAGE
(This is a press release from State Bank of India)
