Theme: Setting New Standards in Banking Excellence
Excerpts from the FY22 SBI Annual report-
"SBI is no stranger to embracing technology disruptions. In our desire to future-proof our businesses, we have adopted fintech as an opportunity to automate decision-making and improve efficiency. If the rising adoption of online and mobile banking in millennials is any indication, it is likely that the brick-and-mortar banking will have less relevance to the younger generation. The cashless economy is driving digital transformation faster than ever, with more banking organisations adopting digital banking. At SBI, we are highly cognisant of this trend, and we are leading the digital transformation drive to serve an increasingly digital India" SBI has been one of the earky adopters of technology in its business operations. It has leveraged its size and scale to reach a better position to survive and thrive in the digital age.
"Using technology, we have enhanced our ability to sense, think and act, and augment decision-making process. What’s more? We are using technology to capture deeper insights to address customer’s pain points at various points of contact. This is unifying all our systems for an enhanced customer experience. As a result, our customers can do more in lesser time."
YONO resembles the success that the bank has achieved and the same is visible in the numbers of YONO.
"Our flagship all-encompassing digital platform, YONO, is testimony to our prowess in delivering cutting-edge digital services to millions of customers. Customers are increasingly choosing to bank with us online and YONO is seamlessly connecting us with them.
As of 31st March 2022, YONO has set a record with 111.74 million downloads, 26K new digital Savings Bank accounts per day and 48.35 million registered users. These numbers are telling indicators of the potential digital banking holds for SBI. At SBI, we are using the power of analytics to help us lower the barriers to omni-channel digital banking adoption."
Stellar Business Performance in FY22
Total Income: Rs 406,973 Cr (6% growth)
Gross NPA: 3.97% (4.98% in FY21)
Net Profit: Rs 36,356 Cr (50% growth)
Total Customers: 46.77 Cr (added 85 lakh new customers)
Branches & ATMs: 22,266 & 65,030 respectively
SBI’s Advances stood at Rs. 27,94,076 Cr for the FY22, registering a growth of 11.7% on a YoY basis. Bank’s Net Interest Income was at Rs. 1,20,708 Cr for FY22, registering a growth of 9%.
Savings Account Deposits grew by 10.5% to Rs. 15,26,857 crore while Current Account Deposits declined 3.5% to Rs. 2,76,724 crore. Time Deposits stood at Rs. 22,47,953 crore, representing an increase of 11.8%. CASA Deposits accounted for 45.3% of Total Deposits, second highest in the industry after Kotak Mahindra Bank.
Diversified Revenue Mix from Core Business:
Healthy Loan Book breakup:
Highlights from the management
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Future Prospects given by Management
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