Highlights are:
• CASA Ratio improves by 189 bps to 33.25%
• Net Interest Margin (NIM) continues to be healthy at 3.02%.
• Bank has recorded 23% y-o-y growth in Agri advances
• 21% y-o-y growth in SME advances
• 19% y-o-y growth in Per Seg advances
• Q4 Net Profit increase of 41% over Q4 FY13 & 26% over Q3 FY14
1. TOTAL BUSINESS:
The total business of the Bank crossed Rs.1.12 lac crs as on Mar 14. The Bank continued its focus on Retail business with Retail deposits growing at a healthy rate at 24.5% during the year.
Retail advances registered an all round growth during the year with:
• In Personal segment Home loans grew by 18% and Auto loans by 24% YOY
2. KEY FINANCIALS:
• Q-o-Q Net profit has gone up from Rs. 76 crs to Rs. 107 crs, registered an increase of 41%.
• Sequentially profit has increased in Q4 by 26%.
• Under Basel III guidelines Bank’s CET-1 is 8.44% and CRAR at 11.08%.
3. Asset Quality
Gross NPAs level declined significantly from Rs. 3,032 crs (6.58%) during Q3 FY 14 to Rs. 2,819 crs (5.54%) during Q4 FY 14. Net NPA also declined to 3.29% from 4.21% during the period. The Bank sold assets aggregating Rs.295 crs to ARCs during the quarter.
The provision coverage ratio increased to 59.5% during Q4 FY 14 from 55% as at
Q3 FY 14.
4. TECHNOLOGY:
The Bank installed 254 new ATMs during the year taking the total number of ATMs installed to 1,107 of which 970 are in the State of Karnataka. All our branches are now serviced by on-site ATMs. Our ATMs are part of 48,514 strong ATM network of the State Bank Group. The card base has crossed 38 Lacs as on 31st March 2014.
Bank has also installed 2,172 POS machines, besides 300 Green Channel Machines, SSKs and e-lobby which enabled us to migrate 45% of business through ADC.
5. BRANCH EXPANSION:
The Bank opened 164 branches during the year taking the total network of branches as at March 2014 to 944. This includes 772 branches in the State of Karnataka.
During the year the Bank opened 2 Zonal offices in Mangalore and Belgaum and 3 Regional offices at Karwar, Gulbarga and Mysore (Rural)
6. FINANCIAL INCLUSION :
Bank has covered 1672 villages with population below 2000 as against target of 1593. The Bank has been taking lead roles in EBT for distribution of pension and Direct Benefit Transfer for LPG consumer in 3 districts of Karnataka. SBM has been the winner of “The Best Banker-Financial Inclusion (Mid Sized)” award 2013 established bi Indian Express Group.
7. CORPORATE SOCIAL RESPONSIBILITY:
During the FY13-14, being a Centenary year, Bank has donated Rs.1.57 crs to Kidwai Memorial Institute of Oncology for construction of multi-disciplinary pediatric ward named ‘State Bank of Mysore Centenary Block’ for augmenting facilities for treating children affected with cancer.
The Bank also supported more than 2,300 special activities with an outlay of
Rs.457 lacs under Community Services banking during FY13-14.
The Bank also donated more than 6,100 ceiling fans and 1,500 water purifiers on the occasion of Teacher’s day and Children’s day 2013 respectively to deserving Govt/ needy schools through each of its branches/offices at a cost of more than Rs.200.00 lacs for the benefit of the students community
