State Bank of India (SBI) has witnessed 60% rise in deposits so far this fiscal, partly due to the flight of savings from ponzi and bogus schemes, many of which financial ruined in recent months. Surprisingly, just like many other banks, SBI during the latter part of the past fiscal had witnessed a sharp fall in deposit accretion.
In absolute terms, the bank's deposit growth till now has been Rs 41,000 crore as against Rs 26,000 crore registered in the corresponding period previous year.
For the year ended March 31, 2013, the bank’s net profit surged by 20.48% at Rs 14104.98 crore as compared to Rs 11707.29 crore for the year ended March 31, 2012. Bank’s total Income has increased by 12.26% to Rs 135691.94 crore for the year under review from Rs 120872.90 crore for the previous fiscal.
On consolidated basis, Group’s FY13 net profit after Minority Interest and share of Profit / (Loss) of Associates increased by 16.77% at Rs 17916.23 crore as compared to Rs 15343.10 crore in FY12. Its total Income has increased by 13.38% to Rs 200559.83 crore for the year ended March 31, 2013 from Rs 176888.97 crore for the previous year.
