India’s largest lender State Bank of India (SBI) has reported a
15.4% jump in standalone net profit with INR32.6bn ($663m) for
the three months to 31 December 2011, up from INR28.3bn in the same
period a year ago.

SBI’s net interest income increased by 26.7%
year-on-year to INR114.7bn in December 2011 from INR90.5bn.

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SBI’s Net Interest Margin also grew strongly
by 44 basis points year-on-year to 4.05% compared to 3.61% in
Q3FY11.

Total deposits increased by almost 14% to
INR10trn at the end of this third quarter.

Retail banking revenue increased by 24% to INR133bn in December
2011.

The CASA ratio increased by 41 basis points
year-on-year from 47.52% to 47.93%.

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SBI reported an unexpected rise in bad loans
for the third quarter of 2011, with non-performing assets rising to
2.22% of the total from 1.61% a year earlier.

Other less positive metrics included:

  • Cost to income ratio increased by 25 basis points from 45.72%
    in 3Q10 to 45.97% in 3Q11,
  • SBI’s deposits market share dropped from 16.74% in December
    2010 to 16.29% in December 2011, and
  • SBI’s loans market share decreased from 16.83% to 16.48%.

SBI’s total assets increased by 14.92% to
INR13.01trn in December 2011.  

Domestic branch numbers for SBI increased by a
net 478 branches from 13,294 to 13,772 year-on-year.

The number of registered mobile banking users
soared by almost 22% from 577,000 to 2.8m.

SBI’s investment in alternate channels is
paying off already with digital channel use increasing year-on-year
from 27.2% of all transactions to 31.6%.

The number of debit card users also increased
significantly year-on-year from 68.4m in December 2010 to 86.5m in
December 2011.