From : E-Group, STC, Salt Lake, Kolkata Dear Member, Kindly double click on the enclosed attachment to read it. With regards, Anup Sen, Moderator E-Group, STC, Salt Lake, Kolkata email : stcsaltlake@xxxxxxxx We are receiving emails from our members advising that they are not receiving emails from us. In this regard we like to inform our members that there may be two reasons for non receipt of the emails as under: 1. If mails are returned from your mail box (due to hard bounce) as there is no space in the mail box, our system automatically delete your email from the list. To avoid these, please ensure to download regularly the mails sent by us and keep enough space in the mail-box. 2. Some of the e-mail servers (e.g. yahoo.com, sify.com, rediff.com or hotmail.com etc) may treat our mails as "SPAM" and delete the mails. Some of them put these mails in the "Bulk Folder". If such is the case, please take up the matter with your respective e-mail service provider to sort out the problem. However, if you do not receive our mails please contact us. We shall be glad to receive your feedbacks through emails regarding the mails being sent to you through this e-group. This message is intended only for the use of the Addressee and may contain information that is PRIVILEGED and CONFIDENTIAL. If you are not the intended recipient, dissemination of this communication is prohibited. If you have received this communication in error, please erase all copies of the message and its attachments and kindly arrange to notify stcsaltlake@xxxxxxxx immediately.Title: State Bank of India, Staff Training Centre, Salt Lake, Kolkata. : : stcsaltlake@xxxxxxxx : :
Kolkata [May28, 2004] : The Operating Profit of the Bank for
2003-04 stood at Rs 9,553.46 cr. as compared to Rs. 7,775.40 cr.
in 2002-03, recording a growth
of 22.87%. The Bank has posted a
Net Profit of Rs 3,681.00 cr.
for 2003-04 as compared to Rs.3,105.00 cr in 2002-03, registering a
growth of 18.55%. The growth in profit in 2003-04 has been achieved due to increase in both Net Interest Income as well
as Profit on sale of Investments. In 2003-04 the Bank registered a
substantial growth in the Profit on
sale of Investments which increased to Rs
3,073.46 cr as against Rs.1,694.60 cr in 2002-03. Highlights
v
Net Interest Income was Rs. 11,186.32
cr. as
against Rs. 9,977.54 cr in the
previous year, ie., a growth of
12.12%. This was due to growth in
both interest income on
resources deployed in treasury operations as well as on advances. v
Average level of Advances in India was
higher by 10.14% and average level of
resources deployed in Treasury Operations in India was higher by 10.79% .
v
Cost of deposits (excluding Resurgent
India Bonds/ India Millennium Deposits) witnessed a reduction from 6.43%
in 2002-03 to 5.48% in 2003-04. v
Net Interest Margin was higher at 3.04%
compared to 2.95% in the previous year. v
Non-interest income grew by 32.62%, from Rs 5,740.26 cr in 2002-03 to Rs 7,612.45 cr in 2003-04. v
Operating Expenses have registered an increase of 16.40%.
Staff cost has increased by
13.34% mainly due to additional contribution to pension fund and
provision for leave encashment liability for current year as per AS15. v
Major amounts of provisions were as
under: Ø
Rs 3,702.75 cr. towards non-performing
assets (as against Rs. 2,592.93 cr in 2002-03) which include floating provision
of Rs 990.00 crores over and above the RBI norms for NPAs. Ø
Rs.1243.86 cr towards Income Tax,
adjusted for deferred tax. (as against Rs. 2,162.14 cr in 2002-03). Ø
Rs 49.12 cr towards Standard Assets (as
against Rs. 6,9.22 cr in 2002-03).
Including this amount, the total provision held on Standard Assets amounts to Rs 377.03 cr. Ø
Rs. 495.58 cr towards provision for
depreciation on investments in India, including amortisation of premium on
?Held to Maturity? category. (as against 392.98 cr. in 2002-03) Key Performance Indicators
Growth in Deposits:
The domestic deposits of the Bank (excluding
India Millennium Deposits) increased by 16.03%. The Personal segment deposits
recorded a growth of 10.77% and formed 49.95-% of the aggregate deposits of the
Bank. Deployment of Credit:
ü
The domestic loan portfolio of the Bank
increased by 13.58% in 2003-04 ü
Personal Segment (Retail) loans recorded
a growth of 36% in 2003-04 ü
In the thrust area of housing loans,
there was a growth of Rs.4, 893 cr in the year 2003-04 (as on the last Friday
of March 2004) compared to a growth of Rs.3, 973 cr (as on last Friday of March
2003) in 2002-03. Housing Loans as a percentage to Retail Loans improved to
51.47% as of March 2004 from 49.98% as of March 2003. Share of Housing Loans in
the total non-food advances improved to 10.96% as of March 2004 from 9.20% as
of March 2003. ü
Number of cars financed by the Bank
under the tie-up programme with Maruti Udyog Ltd. grew by 117% from 16,929 as
on March 2003 to 36,786 as on March 2004.
Development Banking:
The Bank
continues to be deeply involved in development banking through its vast rural
and semi-urban branch network, specialised branches for agriculture and small
scale industries and new innovative products. ü
For the Services and SSI sector, Bank has introduced several new
products. ü
For Rural Housing, Bank has introduced Gram Niwas & Sahyog Niwas
Schemes. ü
The Bank has issued 6.09 lac Kisan Credit Cards during 2003-04 with
aggregate credit limit of Rs. 1,598.13 Cr. During the year 2003-04, the Bank
crossed the 20-lac mark in issuance of Kisan Credit Cards. The Bank has also introduced Kisan Gold
Credit Card for high net worth farmers.
NPA Management:
ü
The Gross NPA ratio has come down from
9.33% as on 31st March ?03 to 7.75% as on 31st March ?04, and the Net NPA
ratio, from 4.50% as on 31st March ?03 to 3.48% as on 31st March ?04. ü
Under the SARFAESI Act 2002, notices
have been issued in 12,553 cases involving an amount of Rs. 5,114 cr, effecting
a recovery of Rs. 130 crores till March 2004. ü
76 Assets involving Dues of Rs. 570.35
Cr (Principal Amount) have been sold to ARCIL during 2003-04 at an offer price
of Rs. 162.33 Cr. Technology:
State Bank of
India has made rapid strides in adopting technology as a key enabler for
achieving efficiency of its business operations. ü
The State Bank Group, which has 13,635 branches, has computerised all
the branches during the year 2003-04. ü
ü
The State Bank Group has at present over 3,900 networked ATMs
comprising of over 2,800 ATMs of SBI and ü
The Bank has an ATM Card base of more than 5 million ü
SBI has entered into sharing of ATM network with Indian Bank, UTI Bank
and HDFC Bank for larger coverage and increasing non-interest income. ü
Internet Banking for retail customers has been rolled out to 1,100
branches covering over 300 centres, facilitating easier access to Bank?s
services. This facility is being used
by more than 2,50,000 customers. ü
The Bank is rapidly moving towards a centralized database with a
state-of-the-art Core Banking Solution.
The Core Banking Solution will enable on-line, real-time transaction
processing and provide on-line interface to a multitude of technology driven delivery
channels. Business Process
Reengineering: ü
The Bank is undertaking a Business Process Reengineering Project and
has engaged Mckinsey & Co, as advisor for the project. The objective of
this exercise is to strengthen Bank?s ability to acquire new customers, build
lasting relationships with existing customers and to increase customer
satisfaction through world-class service. Capital Adequacy Ratio:
ü
The Bank has a comfortable Capital Adequacy Ratio of 13.53%
as of March, 2004 as compared to 13.50% in March 2004. Cross Selling
within SBI Group: ü
Cross selling of products from SBI Life
Insurance Co. Ltd. and SBI Funds Management Pvt. Ltd has commenced in right
earnest through our Branch Network in the entire Group. ü
Over 2,600 Branches are now engaged in
insurance selling distributing a range of life insurance products like Mortgage
Redemption Insurance, Endowment, Pension and Term Insurance. ü
During the financial year 2003-04, our
Bank branches have covered over 1,28,700 lives and collected premium of Rs. 82
Crs. ü
The Bank has recently tied up with New
India Assurance Co. Ltd. for distributing their non-life products through our
Branch network. STATE BANK
GROUP: ü
Group assets have increased from Rs.
4,97,756 cr as on 31st March 2003 to Rs 5,50,749 cr as on 31st March 2004 ü
Group net profit for the year 2003-04
stood at Rs. 5,531 cr as against the figure of Rs. 4,199 cr in FY 2002-03. Thus the SBI Group has crossed
the Net Profit of US $ 1 Billion mark. ü
Group Operating Profit for the same
period stood at Rs 14,568 cr as against the operating profit of Rs 11,316 cr in
FY 2002-03 |