Q4FY18 Results: SBI witnesses widening of net loss

Country’s largest bank, the State Bank of India (SBI) reported its Q4FY18 net loss and also reported divergence for its FY17 March financial with RBI assessment.

Total net interest income (NII) for the quarter reported 10.5 per cent yoy and 6.9 per cent qoq to Rs. 19,974 crore in Q4FY18 as against Rs. 18,071 crore in Q4FY18 and Rs. 18,687 crore in Q3FY18. For the full year net interest income grew  by 21 per cent yoy to Rs.74854 crore

The asset quality looks deteriorated to GNPA of 10.91 per cent as against 6.9 per cent in Q4FY17 and 10.35 per cent in Q3FY18. Total GNPAs for the quarter almost doubled to Rs. 2,23,427 crore in Q4FY18 as against Rs. 1,12,342 crore in Q4FY17 and Rs. 1,99,141 crore in the previous quarter.

The provisions for the quarter more than doubled to Rs. 28,096 crore in Q4FY18 as against Rs. 11,740 crore in Q4FY17 and Rs. 18,876 crore in Q3FY18. For the full year FY18, the provisions rose by 108 per cent yoy to Rs. 75,039 crore in FY18 vs Rs. 35,992 crore in FY17.

The net loss for the quarter widened to Rs. 7,718 crore in Q4FY18 as against net loss of Rs. 2,416 crore in Q3FY18 and net profit of Rs. 2,816 crorein Q4FY17. For the full year FY18, the bank reported net loss of Rs. 6,547 crore in FY18 as against net profit of Rs. 10,484 crore in FY17.

The advances grew by 6 per cent qoq to Rs. 19,34,880 crore in Q4FY18 as against Rs. 18,26,211 crore in Q3FY18 and Rs. 15,71,078 crore in Q4FY18. Further, the capital adequacy looks low at CAR of 12.6 per cent