Annual Report 2015-2016 of State Bank of India

It is a broadly described annual report of State Bank of India in the year of 2015-2016. During the year, Rs. 83.18 Crore has been debited to Profit and Loss Account (Previous Year Rs. 1,049.64 Crore credited) on account of deferred tax. The total assets of The Bank have increased by 10.30% from Rs. 2048079.80 Crore at the end of March 2015, to Rs. 2259063.03 Crore as at the end of March 2016. The deposits rose by 9.76% and stood at Rs. 1730722.44 crores as on 31^st March 2016 against Rs. 1576793.24 Crore as on 31^st March 2015. Total Interest income has increased from Rs. 152397.07 Crore in FY2015 to Rs. 163685.31 Crore in FY2016 registering a growth of 7.41%, due to higher volumes. Non-interest income increased by 24.73% to Rs. 28158.36 Crore in FY2016, as against Rs. 22575.89 Crore in FY2015. The Operating Profit of your Bank for FY2016 was at Rs. 43257.81 Crore as compared to Rs. 39537.28 Crore in FY2015, an increase of 9.41%. The Bank posted a Net Profit of Rs. 9950.65 Crore for FY2016, as compared to Rs. 13101.57 Crore in FY2015, i.e. a decrease of 24.05% due to higher provisioning requirements on NPA. The total consolidated profit of the Group also declined by 28.1% to Rs. 12,224 Crore in FY16.

For the year FY16, The Board of Directors of The Bank has declared a dividend of Rs. 2.60 per share of face value of Re 1 each.

More Annual Report/Financial Performance of State Bank of India: