PRESS RELEASE

State Bank of India

Highlights:

ü The Net Profit for H1FY08 Rs.3037.23 crores, growth of 53.16% over H1FY 07.

ü The Net Profit for Q2FY08 is at Rs.1611.42 crores as against Rs.1184.49 crores in Q2FY07, growth of 36.04%.

ü Continued high net profit for third quarter in succession after net profit of Rs.1493.19 crores in Q4FY07 and Rs.1425.81 crores in Q1FY08.

ü The Bank’s Operating Profit for H1FY08 at Rs.5074.68 crores, growth of 29.52% over H1FY07.

ü Consolidated Net Profit up from Rs. 2697.45 crores in H1FY 07 to Rs. 4012.38 crores in H1FY 08, growth of 48.75%.

ü ROA of the Bank improved to 0.97% in H1FY 08 from 0.78% in H1FY07.

ü Marked improvement in ROE of the Bank to 17.83% in H1FY 08 from 13.39% in H1FY 07.

ü Market Capitalization of the Bank has crosses Rs. one lakh crores during the quarter.

ü Market Share in Deposits and Advances 15.38% and 15.35% respectively.

Profitability:

ü Net Interest Income (NII) in H1FY08 at Rs.7964.29 crores has gone up by 12.61% over the NII of Rs.7072.33 crores in H1FY07.

ü Net Interest Margin (NIM) of the Bank at 2.84% after deduction of amortisation premium of Rs.569 crores from Interest Income on Investments.

ü Total non-interest income increased from Rs.2525.86 crores in H1FY07 to Rs.3180.54 crores in H1FY08 thereby registering a strong growth of 25.92%.

ü Fee Income also registered a growth of 13.95% to Rs.1830.37 crores in H1FY08 from Rs.1606.31 crores in H1FY07.