State Bank of India (SBIN) — concall transcript | 31 March 2024
SBI reported record FY24 net profit of ₹61,077 crores (+21.6% YoY) driven by 20%+ credit growth, improved asset quality (gross NPA 2.24%, net NPA 0.57%), and 11% deposit growth, with CET-1 at 10.36% and LCR at 124%. Management highlighted robust profitability, digital adoption (61% savings via YONO), and liquidity strength, while addressing RBI's potential infrastructure provisioning concerns and clarifying capital adequacy impact on ~₹1.21 trillion exposure. Loan growth outlook remains 13-15%, with CASA targeting 75% and NIM held at 3.43%. Capital capacity supports up to ₹7 trillion in loans, and plans include SBI Wealth expansion to $1 trillion AUM, Tier-1 capital raises, and strategic focus on natural capital ploughing back before AT-1 issuance. Growth capital prioritization emphasizes organic growth, with divestment of Yes Bank stake noted at 3x prior valuations.
About State Bank of India (SBIN)
Financial Services · Banks · Listed on BSE
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