HIGHLIGHTS OF Q4, FY 13-14 PERFORMANCE
SBBJ Q4 Net Profit increases by 33.32% to Rs. 237.63 crores
(Rs. in crore)
Net Interest Income
Net Operating Income
Mumbai 23rd April, 2014: On Wednesday, 23rd April 2014, the Board of Directors of State Bank of Bikaner & Jaipur approved the financial results for the year ended 31st March 2014 at its meeting held in Mumbai.
SBBJ announced its audited financial results for the quarter/year ended March 31, 2014. Shri B.Sriram, Managing Director of State Bank of Bikaner & Jaipur informed that the Bank has posted an impressive Q4 performance. For the year ended 31st March 2014, Net Profit marginally increased by 0.20% to Rs 731.69 crores.
During the year, Net Interest Income of the Bank rose by 10.05 % and Non-Interest Income by 20.66% over the previous year aided by a robust growth in Treasury Income, recoveries in written off accounts and efficient management of controllable costs. Net Interest Margin remained at 3.62%, among the best in the industry.
Shri B.Sriram informed that the Bank has achieved consistent balanced growth with its business level reaching a figure of Rs. 139208 crores. The Bank has also achieved its Priority Sector Advances and Agricultural Advances targets of 40% and 18% respectively. Loans to MSE sector grew by 17.10 % while Home and Auto Loans grew by 15.17% and 24.75% respectively during the year. The Bank’s dependence on bulk deposits was considerably reduced with the proportion of high cost deposits and CDs brought down to 12.79% from 18.27%. Savings Deposits grew by 16.86 % and the Bank’s CASA deposits improved from 35.88% to 39.51% during the year.
Gross and Net NPAs of the Bank stood at 4.18% and 2.76% as at March 31, 2014 compared to 3.62% and 2.27% respectively as at March 31, 2013. Provision Coverage Ratio stands at 56.67% against 58.64% the previous year.
With plough back of profits, the Bank’s Capital Adequacy Ratio as per Basel III was 11.55% as on March 31, 2014. CET I capital stood at 8.77% with Tier I Capital at 9.04%. The Bank delivered a RoE of 13.66% and RoA of 0.87% for FY14. EPS stood at Rs 104.53 and Book Value per share increased to Rs 765.13. During the year, the Bank has paid a dividend of Rs. 14.30 per share (143%).
Shri B Sriram also shared that SBBJ stands committed to meeting banking needs of business and individuals across the country with Rajasthan as its primary service area. He informed that during the year bank continued with its tradition of expanding its coverage across the country/region and opened 111 branches, taking its total network to 1148 branches. The ATM network of the Bank was expanded with the addition of 467 ATMs during the year.
As a responsible Corporate Citizen, the Bank has also been engaging with Society at various levels and donations to the extent of Rs.7.20 crores have been made under the Corporate Social Responsibility initiatives.