Financial Performance 2007-2008 of State Bank of India

It is a broadly described Financial Performance (annual report) of State Bank of India in the year of 2007-2008. The total assets of the Bank increased by 27.35% from Rs. 5,66,565.24 Crore at the end of March 2007 to Rs. 7,21,526.31 Crore as at end March 2008. Investments increased by 27.06% from Rs. 1,49,148.88 Crore to Rs. 1,89,501.27 Crore. The Global deposits stood at Rs. 5,37,403.94 Crore as on 31^st March 2008, representing an increase of 23.39 % over the level on 31^st March 2007. During the financial year, The Operating Profit of the Bank for 2007-08 stood at Rs. 13,107.55 Crore as compared to Rs. 9,999.94 Crore in 2006-07, registering a growth of 31.08%. The Bank has posted a Net Profit of Rs. 6729.12 Crore for 2007-08 as compared to Rs. 4,541.31 Crore in 2006-07, registering a growth of 48.18%. The Net Interest Income of the Bank registered a growth of 13.04% from Rs. 15,058.20 Crore in 2006-07 to Rs. 17,021.23 Crore in 2007-08. Non-interest income stood at Rs. 8,694.93 Crore as against Rs. 6,725.26 Crore in 2006-07. The Bank’s market share in deposits was 15.44% as of March 2008.

The Bank has increased the dividend to 215%.

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