BANK Feefu W osBt

osBt

W(Sham K.)

'ilr-frq Fee"fuqrcfiq €e +sSTATE BANK OF INDIA

04.08.2021

Madam / Dear Sir,

SEBI LODR, 2015: OUTCOME OF BOARD MEETTNGFINANCIAL RESULTS FOR THE QUARTER ENDED 30.06.2021

ln terms of Regulation 33 and Regulation 30 (6) of the SEBI LODR, 2015 and otherapplicable provisions, we forurrard herewith a copy of the Standalone and ConsolidatedFinancial Results of the Bank along with the Limited Review Report for the quarterended 30th June, 2021, approved by the Central Board of the Bank at its Meeting heldon 04th August, 2021 at Mumbai.

The Listing Department,National Stock Exchange of lndia Limited,Exchange Plaza, 5th Floor,Plot No.: C 11, 'G'Block,Bandra Kurla Complex, Bandra (East),Mumbai - 400051.

2' The Central Board Meeting commenced at 10.30 AM and concluded at 01 .15 pM

Please arrange for taking the above disclosure on record and dissemination

Yours faithfully,

Asst. General Manager (Compliance & Company Secretary)

The Listing Department,BSE Limited,Phiroje Jeejeebhoy Towers,25th Floor, Dalal Street,Mumbai - 400001.

cc/s&B/sKt2021t232

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Shares & Bonds Dept,Corporate Centre,l4thFloor, State Bank Bhavan,

Madame Cama Road,

Mumbai - 400021, lndia

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SIATE BANK OF INDIACORPORATE CENTRE, NARIMAN POINT, MUMBAI .4OO O2I

UNAUDITED FINANCIAT RESUTTS FOR THE QUARTER ENDED JUNE 30, 2O2Iin crore)

Slqndolone gonsolidoled

Yeor ended30-06.202r 31.m.2021 30_06-2020 31.o3 202r 3t.03.2021 N.O6.2U20 3l.mro2l

s.No- Podlculors

(llnoudlledl (Audltedl I lJnoudiledl (AudlHl I llno udltatll66.5m.38 2_65.t50-63

(o] lnleresl/ dlscounl on ddvonces/ bills 4l . i 43-53 40.213.71 44.101.tl 1,71,429.14 42.472.23 41.256.67 45.711.40 1.76.780.19(b) on 20.369.83 20,376.88 18.705.48 7?.AOA.O9 22.349.O8 22.t57.22 20,483.60 87.130.62(c) on bolonces wllh ol lndiq qnd olher inler-bonk funds 1.035.07 1.365.93 1.794.42 4.317.53 r,r03.07 1.133.71 r,836.35 4.541.43(d) Ollrers 3,016.00 3,145.12 1.8?9.37 9,595.87 3.035.57 3. r 8s.03 1.904.62 9.663.24

Olher income 11 ffia]L 1A 225 3' 7 0a7 aa 41.?56.64 21.{5.99 35,397.98 r8.M4.36 I _G5_855-r 477.347-17 81.32&-96 7 3.43.970.62

39,858.82 1.51.110.63 34.219.O9 3a.38a-a2 40.30r -32 I 56 0lO l720.466-35 23.592,17 14O77 L9 82,652.22 1.50.429.60

(q) Employee cosl 12,538.29 r 3,382.78 I 1.865.06 50,936.00 r 3.4r 5.04 14.240.12 12.6s8.22 54.330.83(b) lo Buslness 11 .419.40 t7.570.56 9.31O.44 58,3?7.02(c) Olher operoli4g expenses 7.928.06 10.209.39 6,212.63 31.716.22 9.353. r 5 12.053.08 7.306.41 37.701.75

IOIAI. EXPENDIIURE 57 936.51 72-436.64 42.252-54 6t-576-39 3.06.139.77

of wrlleond 10.05r.96 I r.05i.03 r 2,50r .30 44.0i 3.03 r 0,5r 0.24 't t,5t 6.zl 12.562.76 46.102.16which for osels s.o29.79 9.914.23 9.420.46 27.244.35 5.489.44 11 .177.41 9.620.39 29732A5

Exceplionol llems t,5Jv-/J 1,539.73 1,367.27 1.367.27rRofITox 2.418.86 2.1?8.37 1.370.44 7.130.65 2.780.80 2.391.10 2.008.96 8.516.25

4_189.34 20.110.17 7.53922 7.270.25 5_203-19 21.279.71of loxilems

FOR TI{E 6 so..OO 6 1150 75 t a9 3t ,n aln a7 7 539 7' 7 77lJ25 5 203 49 ,4179 71

1t3,37 - 77.5.08 63.96 - 391.90ly lnlerest 322.64 369.65 tl90-95

2345

67

8

?

l0ll12

l3r4l5l677

I

ET INIERESI 4.189.34 20.410.17 7 6.125.52loce volue of ? l/- eocl 492.46 492.46 492.46 492.46 492.46 492.46 892.46 892.46

revoluolion reservesReserYes 2,29,405.38 ,o91.7

(i) 56.9m s6.9201 56.927,of shores held of lndio 56.92% 56.92% 56.92% 56.927, 56.9291

rolio 13.66% 13.74% 't3.40%: 13.747,

10.o28(o) CEI I rqlio 9.91% 10.o2% 10.147.

(iD

[b) Addilionollier I ]olio 1.41% 1.4:27. 1.217" 1.427<

shore6.86 25.1 17.29 4.69(o) Bosic ond diluted EPS before bdroordinory ilems (nel of lox expense)

(Quorler numbers nol onnuollsed'l6.86 25.1 I

(iii)

(b) Bosic ond diluled EPS ofter Exhqordinory ilems (nel of lqx expense)(Quorler numbers nol dnnuolisedl

NPA

of ossels .48 1,26,389.02 1 .29,660.69 \.26.389.02

36.809.72 42.703.63 36,809.72(b) Amounl of nel non-performing ossels 43.t52.52(c) %ofgrossNPAs 5.32% 4.98% 5.441 4.98%

(iv)

1.50% 1.867, 150%(d) % of net NPAS

l8l920

(v) o 42% oAa%Relurn on ossels (Nel Assets bosis-Annuollsed) 0.57% 0.s8%

kv4 I

STAIE BANK OF INDIACORPORATE CENTRE. NARIMAN POINT, MUMBAI - 4OO O2I

UNAUDITED SEGMENTWISE REVENUE, RESUtTS, ASSETS & TIABITITIES

Ymr ended Quorier ended30.06.2021 31.03.2021 n.o -2020 3l.03.APl 30.06.202r 31_Gt_2dlr 31.03.2021

s.No. Pqdiculors

o 26.071.71 .33 ?1.916.7? 26.0?2.61 23,264.25 9i.032.s0b Wholesole 19.279.50 23.767.04 19.007.87 81.742.12 19.607 .55 24.'31.80 19.340.52 83.O73.O7c Relqil 3r.886.8r 33.840. r s 3i .8i 1.49 1,31,783.02 3t.?71.?1 33.942.8s 31 .891.44 1.32.094.86d 12.611.74 i 9_354-04 10,758.36 64,569-16e Olher 3.507.54 3.550.55 3.211.9? 14.647.06f l09.rs 1.036.37 87.17 |,625.34 I 14.03 1 .O37.17 94.79 1.65r.31

Revenue 77 3r7,17 3-O7.107 -27 93_90s.38 1,U,272.{ 88.56r.35[ess: lnler Revenue 638.44 841.66 577.O2 3.097.34

I

evenue 71.157-46 3.O7.10727 93.266-91

o 3,172.34 3,8f7.29 15.56r -38 7 1 1.62o (ii) Exceolionol ilems t.539.73 I .539.73 1,367.27 1,367.27o 7 .O77.30 3.172.34 5.427.02 l7.r 01.1 I 7,003.4r 2.641.62 4.910.9A 15.760.24

b 4.451.26 4.640.46 3.608.33 5.1 49.19 4.540.42 4.;95.69 - 3,58r.35 5.273.34c - 1.383.69 I .413.t I 4.9c'4.49 9,148.8 - r.359.55 1.144.37 4.930.r I 9.51 l.4td lnsuronce Business 308.09 631.51 799.54 2.337.97e Olher i .0t 9.40 to4.88 1,3r 7.30 3,952.1 0f Unollocoled - 1,222.01 - 576.79 1,1 53.40 - 4,157 .56 1 ,192.15 - 156.72 - 1.164.13 - 4.039.14

Aclivilies .35 7.212.15 32-795.96[ess: Tqx 2.418.86 2.198.37 1.370.44 7.130.65 2.7ffi.80 2.391.t 0 [email protected] 8.516.25

Less:

Nel 6_504.m 6.450_7s 1149.! 20.410.47 7.539.22Shore in of 163.37 -;25.08 65.v6 - 39r.90

less: 322.68 369.65 490.95 1.482.36

2

Net 6,504.00 6.450.75 4,189.9 20,110.47 7,37?.?1 6,125.52 4,776.50 22,&5.45

d l r r r.55 .60 I -44 .86 14.52.023.37b I i.55.086.09 1 1 .97 .649 .9 1 I I .39.154.28 11 .97 .649 .91 1t .79 .455.44 12.21.624.66 11 .62.28A.73 12.21.624.66c 17,70,306.42 18.15.024.48 15.62.147.26 18,1s,o24.48 17.7 6.503.65 I 8.1 9,067.05 r 5,65,337.54 t8,19.067.05d lnsuronce Business 2.46.190.26 2.37.323.29 1.A8.265.99 2.37,323.29e 47.560.59 46.307.46 44.815.45 46.307.46t Unollocoled 47.590.93 6A.643.69 56.612.43 68.643.69 48.355.48 6?.272.72 57.204.79 69,272.72

3

Tolol 45.57.OO5-65 45.u.129-63 11.17.931-57 15.31.429-63 48.80-594.86 48_tts.618.55

o Treosury operolions 14.01 .635.68 13.26.432.08 12.03.883.45 13.26.432.08 13.91.364.65 r 3, r 5.e38.88 11,94,977.00 13, r 5,938.88b 11 .68.462.70 11 .79 .124.13 I 1.85.545.78 1t .60.686.87 I 1.85.545.78Corporoie/ Wholesole Bonking operolions I t.6t ,314.09 11 ,68,462.70 11,45.218.44c r 6.99.537.03Reloil Bonking operolions 16,37,382.70 16.82.902.21 14,43,419.48 16.82.902.21 16,54,968.37 16,99,i37.03 14,6t ,405.07d Business 2.32.758.79 2,24,t01.8s |,76,626.24 2.24,101.85

e 32.871.O7 32.314.4? 32.563.84 32,314.42Olher Bonking operolionsf i . r 2.619.03Unollocoled 95.392.77 1 .O2.757.45 83.754.54 1 ,02.757.45 1,05,519.18 I ,12.,5t 9.03 92.738.20

C' 2.75.361.56 2.61 .583.14 2,75,561.56Copiiol ond Reserves & Surplus 2,61.280.41 2,53,875.19 2.41.655.66 2,53,875.19 2,83,984.67

4

a5 57 005 i5 ts ?a A)9 A7 61 17 971 47 t53tt 9 t3 /tB 80 59d 86 d8 15 i18 55 41 80 580 36 &15 618.5t

ln crore)

A.1 Segmenl Nel Resulh ore onlved ofrer lqking lhe efiec! ot Tronsfer pricing.

k'Jtl V

STATE BANK OF INDIACORPORATE CENTRE, NARIMAN POINT, MUMBAI - 4OO O2I

SUMMARISED STATEMENI OF ASSETS & TIABITIIIES

(t in crore)

t ,

Tewori(rB, T & S) Monoging Director (R. & SARG) Monoging Dkector (CB & GM)

Setfu

Monoging Direcior (R&DB)

DinesH(srfiEr Khoro

Chairman

Ploce: MumboiDote:04.08.2021

30.06.2020s.

No.Porliculors

o 892.46 892.46 892.46 492.46 892.46 892.46b Reseryes & .95 2.52.942.73 2,83,092.21 2,74,669.10 2,60,690.68c interesl 9 Y | 5.3/ I 92 8.677.40d 37,20,987.01 36,81,277.08 34,19,362.79 37,56,763.81 37,15.331 .24 34.53.116.46e 4.17 .297.70 4,16,019.62 4,33,7?6.21 3.31.904.88f Olher liobililies 1 .81 .979.66 I I 3,25.298.48

I

45.9.429.63 17 .57

o ond bolonces with Reserye Bonk of lndio 2,13.201.54 i ,29, I 38.61 1,72,225.27 2,13,498.62 1 ,29,411 .02b Bolonces with bonks ond ql coll ond shorl nolice 13.12 1 .29.837 .17 19 l 1.34.924.03c lnvestments 13,86.509.97 r3,si.705.21 12.25.228.41 l .94 l 100.27 14.23,442.21d 24,49,497 .79 22,?8,346.16 24,83,572.44 25,00,598.99 23,47,478.45e Fixed ossets 38.419.24 t9 39 93 166.79

t 17.28 3.51.768.68 7.41 3.05.498-60

2

as 3t 419.L3 rl:l AO 5AO -14

Notes on Standalone Financial Results:

1 The above financial results for the quarter ended June 30, 2021 have been drawn from thefinancial statements prepared in accordance with Accounting Standard (AS-25) on 'lnterimFinancial Reporting'.

The above financial results have been reviewed by the Audit Committee of the Board at its

meeting held on August 03,2O2t and approved by the Board of Directors at its meeting held

orr August 04,202L. Tlrese finarrcial results have been subject to limited rcvicw by theStatutory CentralAuditors of the Bank.

3 The above financial results for the quarter ended June 30, 2021- have been arrived at afterconsidering necessary provisions for NPAs, Standard Assets, Standard Derivative

Exposures, Restructured Assets and lnvestment Depreciation/provision. Provisions forContingencies, Employee Benefits, Direct Taxes (after adjustment for Deferred Tax) and

in respect of other assets / items are made on estimated basis.

The above financial results for the quarter ended June 30, 2021 have been prepared inaccordance with the Significant Accounting Policies stated in the annual financialstatements of the Bank for the year ended March 3t,2O2L.

RBI Circular DBOD.No.BP.BC.L/21.06.2OL/20L5-L6 dated July 01-, 201-5 on 'Basel lllCapital Regulations' read together with RBI Circular No. DBR.No.BP. 8C.80/2L.06.2OL/2O1.4-

L5 dated March 3L, 2OL5 on 'Prudential Guidelines on Capital Adequacy and LiquidityStandards Amendments' requires the Bank to make applicable Pillar 3 Disclosures includingLeverage Ratio and Liquidity Coverage Ratio under the Basel lll framework. These

disclosures as of June 30,2O2L, are placed on the Bank's Website http://www.sbi.co.in.

As per RBl Circulars DBR.No.BP.L5t99l21,.O4.O48/20L6-L7 and DBR.No.BP.L906/ 2L.O4.048/

2017-tg dated June 23, 2OL7 and August 28,2OI7 respectively,for the accounts covered

under the provisions of lnsolvency and Bankruptcy Code (lBC), the Bank is holding totalprovision of t 4,585 crore (100 % of total outstanding) as on June 30, 2021,.

7 The Bank has estimated the liability for Unhedged Foreign Currency Exposures in terms ofRBI Circular DBOD.No.BP.BC.85/2L.06.200/2OL3-L4 dated January L5,2OL4 and is holding a

provision of \72L.75 crore as on June 30,202t.

8 The spread of COVID-19 pandemic across the globe has resulted in decline in economicactivities and movement in financial markets. ln this situation, Bank is gearing up itself on

all fronts to meet the challenges. The situation continues to be uncertain and the Bank isevaluating the situation on an ongoing basis. Major challenges for the Bank could be fromextended working capital cycles, fluctuating cash flow trends and probable inability of theborrowers to meet their obligations against the loans timely. The Bank is proactivelyproviding against the challenges of likely stress on the Bank's assets. A definitive assessmentof the impact of COVID-l9 is dependent upon circumstances as they evolve in thesubsequent period.

2

4

5

6

A-va v fj 6?, R#! N r)

The Bank has proactively made an additional provision towards the possible impact ofCOVID-19 pandemic, on the basis of the evaluation and regular assessment. The said

provision is in addition to the provisions held as per RBI guidelines as regards loan loss

provisions. On the basis of above mentioned assessment, Bank's management is notexpecting any significant impact on Bank's liquidity or profitability'

The total provision for COVID-19 uncertainty as on June 30,2OZt is { 9,065 crore

9 Provision Coverage Ratio as on June 30, 2O2I is 85.93% (87 .75% as on March 3L,2O2tl.

10 The number of lnvestor complaints pending at the beginning of the quarter was NlL. The

Bank has received 60 lnvestor complaints during the quarter ended June 30, 2021 while 57

complaints have been disposed off during the quarter. There are 3 pending Investor

complaints at the end of the quarter ended June 30, 202t.

LL ln terms of RBI circular DOR. No. BP.BC/3/21.O4.048/2020-2L dated August 6 2020, thedetailed requirement as per Resolution Framework for COVID-19 related Stress during thequarter ended June 30, 2O2Iis given below:

{{ in croref

64

Type of

borrower

(A)

Number ofaccounts

where

resolution

plan has

been

implemented

under this

window

(B)

Exposure toaccounts

mentioned at

(A) before

implementation

of the plan

(D)

Additional

funding

sanctioned, ifdtry, including

between

invocation ofthe plan and

implementation

Personal

Loans

(c)

of (B),

aggregate

amount ofdebt that

was

converted

into other

securities

15

of which,

Corporate

persons*

,285

6460,313

MSMEs

Total

Others

60,222

2,977

*As defined in Section 3(7) of the lnsolvency and Bankruptcy Code, 2076

(E)

lncrease in

provisions on

account of the

implementation

of the resolution

plan

75,598 L2,93t

9,954

d V P 6>aFeck't'V

4,958

s

446

1,503

{a\ A-

t,949

744

t2 ln terms of RBI circular DOR.STR,REC.LL/2L.04.048/2OZ[-22 dated May 5, 2021-, Bank

implemented a resolution plan in respect of 52,052 borrowers amounting to { 5,246 crore.

L3 The figures for the quarter ended March 3L,2021- are the balancing figures between auditedfigures in respect of financial year 2O2O-21and the published year to date figures up toDecember 31.,2020.

L4 Previous period/year figures have been regrouped/reclassified, wherever necessary, toconform to current period classification.

Ashwini Tewari han J. As ni Bhatia Sreenivasulu Setty

Managing Director

(tB, T & Sl

For KhandelwalJain & Co.

Chartered untants

Alpesh WaghelaPartner: M. No. L42058Firm Regn. No. 105049W

For N. C. Rajagopal & Co.

Chartered Accountants

V. ChandrasekaranPartner: M. No. 024844Firm Regn. No. 0033985

Managing Director

(R, C & SARGI

Managing Director

{cB & GM}

Managing Director

(R & DBI

Kumar Khara

Chairman

For J. C. Bhalla & Co.

Cha Accountants

Rajesh Seth I

Partner: M. No. 085669Firm Regn. No. 001-11l-N

For K. Venkatachalam Aiyer &Co. Chartered Accountants

{,

A GopalakrishnanPartner: M. No. 0181-59

Firm Regn. No. 0046105

't/nS' R' TotlJl

Partner: M. No. 07L774Firm Regn. No. 000734C

For O. P. Totla & Co.


For S. K. Kapoor & Co.


V. B. Sin

Partner: M. No. 073L24Firm Regn. No. 000745C

For Karnavat & Co.


er Doshi

Pa : M. No. Lt7987Firm Regn. No. 1-04863W

For Umamaheswara Rao & Co.


\.r

G. Siva Ramakrishna Prasad

Partner: M. No. 024860Firm Regn. No.0044535

For Guha Nandi & Co.


For G. P. Agrawal & Co.


Pradeep Kumar Samal

Partner: M. No. 06L353Firm Regn. No.302082E

For Shah Gupta & Co.


Vipul K Choksi

Partner: M. No. 37606Firm Regn. No. 109574W

For Prem Gupta & Co.


Prem BehariGuptaPartner: M. No. 080245Firm Regn. No. 000425N

FoT SCV & CO. LLP


Rajiv PuriPartner: M. No.084318

Firm Regn. No.000235 N/N500089

For ASA & Associates LLP


Parveen KumarPartner: M. No. 088810

Firm Regn. No.009571N/N500006

a_G8;6-C.,.-**,-7-

Dr. B. S. Kundu

Partner: M. No. O5I22tFirm Regn. No. 302039E

Place: MumbaiDate: August 04,2O2t

1

Independent Auditors'Review Report on the Quarterly Unaudited Standalone FinancialResults of State Bank of India pursuant to the Regulation 33 of the SEBI (Listing Obligationsand Disclosure Requirements) Regulations. 2015, as amended.

ToThe Board of Directors,State Bank of India,State Bank BhavanMadame Cama RoadMumbai-400021

We have reviewed the accompanying Statement of Unaudited Standalone Financial Results ofState Bank of India ("the Bank") for the quarter ended June 30, 202L ("the Statement") attachedherewith, being submitted by the Bank pursuant to the requirement of Regulation 33 of the SEBI

(Listing Obligations and Disclosure Requirements) Regulations,2015, as amended ("the ListingRegulations") except for the disclosures relating to Pillar 3 disclosure as at June 30, 2021

including leverage ratio and liquidity coverage ratio under Basel lll Capital Regulations as havebeen disclosed on the Bank's website and in respect of which a link has been provided in theStatement and have not been reviewed by us. This Statement is the responsibility of the Bank'sManagement and has been approved by the Board of Directors. Our responsibility is to issue areport on the Statement based on our review.

2. We conducted our review of the Statement in accordance with the Standard on ReviewEngagements (SRE) 24L0, "Review of Interim Financial Information Performed by theindependent Auditor of the Entity", issued by the Institute of Chartered Accountants of India.This standard requires that we plan and perform the review to obtain moderate assurance as towhether the Statement is free of material misstatement. A review is limited primarily toinquiries of the Bank's personnel and analytical procedures applied to financial data and thusprovides less assurance than an audit. We have not performed an audit and accordingly, we donot express an audit opinion.

3. The financial results incorporate the returns of 42 domestic branches reviewed by us and 34

foreign branches, out of which 13 were reviewed by the Local Auditors of the Foreign Branches

, specifically appointed for this purpose. The financial results also incorporate the relevantreturns of Central Accounts Office and Global Market Unit reviewed by us. Our review reportscover 39.67 % of the advances portfolio of the bank and 46.63 % of the non performing assets

of the Bank.

Apart from these review reports, in the conduct of our review, we have also considered variousrefurns of other 1757 Domestic branches such as advance portfolio, non-performing assets andprovision duly certified by the respective Branch Managers of the Bank which are alsoincorporated in the financial results. The Branch Managers' reports cover 22|1,9 % of theadvances portfolio of the Bank and 2L.06% of the non-performing assets of the Bank.

4. Based on our review conducted as above and subject to limitations as mentioned in Para 3above, nothing has come to our attention that causes us to believe that the Statement includingnotes thereon prepared in accordance with applicable accounting standards and otherrecognized accounting practices and policies has not disclosed the information required to bedisclosed in terms of the Regulations, including the manner in which it is to be disclosed, orthat it contains any material misstatement or that it has not been prepared in accordance withthe relevant guidelines/prudential norms issued by the Reserve Bank of India in respect ofincome recognition, asset classification, provisioning and other related matters.

bN VMa- ?€9iw

,L rY' N Page 1 of 3

5. We draw attention to Note No. B of the Statement regarding impact of COVID-19 pandemic onBank's operations and financial results, the situation continues to be uncertain and the Bank isevaluating it on an ongoing basis with respect to the challenges faced.

Our conclusion is not modified in respect of this matter

For Khandelwal Jain & Co.Chartered

Alpesh WaghelaPartner:M. No.142058Firm Regn. No.105049W

UDIN:21142058AAAACR3328Place:Mumbai

,dtjSethi

For N.C. Rajagopal & Co.Chartered Accountants

For J.C. Bhalla & Co.

V. ChandrasekaranPartner:M. No. 024844Firm Regn. No.0033985

UDIN: 2'1.024844 AAAAEV7250Place: Chennai

Partner: M. No. 085669Firm Regn. No.001111N

U DIN : 21 0856 69AAAADJ 57 61

Place:Mumbai

Accountants

For K.Venkatachalam Aiyer & Co.Chartered Accountants

For Karnavat & Co.Chartered

For O.P. Totla & Co.Chartered Accountants

-/-,"4 r)

L

S. R. TOTIE--Partner: M. No. 071774

Firm Regn. No. 000734CUDIN: 2107177 4 AAAAAS993B

Place: Mumbai

$A Gopalakrishnan

Partner: M. No.018159Firm Regn. No. 0046105

UDIN:21 018159AAAAAG8290Place: Mumbai

FoTSCV&Co. LLPChartered Accountants

DoshiM. No.117987

Firm Regn. No.104863WUDIN: 21117 987 A AAAAX5925

Place:Mumbai

Rajiv PuriPartner: M. No.0B431B

FirmRegn.No.000235N/ N500089UDIN:2108431 SAAAADT1 418

Place: New Delhi

Page 2 of 3

For S. K. Kapoor & Co.Chartered Accountants

For G. P. Agrawal & Co.Chartered Accountants

B.

o. O73124

Firm Regn. No. 000745C

UDIN:21 073124AAAADV 2435Place:Mumbai

VPartner

Pradeep Kumar SamalPartner:M. No.061353Firm Regn. No.302082E

UDIN:21 061353AAAACG1552Place:Mumbai

For Umamaheswara Rao & Co.Chartered Accountants

For Shah Gupta & Co.Chartered Accountants

\,

For Guha Nandi & Co.Chartered Accountants

Vipul K ChoksiPartrer: M. No. 37606

Firm Regn. No.1.09574WU DIN : 21 03 7 60 6 A A A ACHS 699

Place: Mumbai

Dr. B. S. KunduPartner: M. No. 051221Firm Regn. No.302039E

UDIN : 21 0 5 122L A A A A AX66 41Place: Mumbai

G. Siva Ramakrishna PrasadPartrer:M. No. 024860Firm Regn. No.0044535

UDIN:21024860AAAAAU1519Place:Mumbai

Parveen KumarPartner: M. No.088810

FirmRegn.No.009571 N/ N500006UDIN:2108881 0AAAACH6855

Place:New Delhi

^^bPrem Behari Gupta

Partner: M. No.080245Firm Regn. No.000425N

UDIN:21080245AAAA AMB669Place:New Delhi


For ASA & Associates LLPChartered Accountants

For Prem Gupta & Co.

Date: August04,202L

Page 3 of 3

Notes on Consolidated Financial Results

1. The above consolidated financial results for the quarter ended June 30, 2021 have beenpreparecl following the provisions / guidelines of Accounting Standard (AS) 21,

"Consolidated Financial Statements", AS 23 "Accounting for Investrnents in Associates inConsolidated Financial Statements" , AS 23 "Interim Financial Reporting" & AS 27 "FinancialReporting of Interests in Joint Ventures".

2. The above consolidated financial results have been reviewed by the Audit Committee of theBoard at its meeting held on August 03,202'1, and approved by the Board of Directors at itsmeeting held on August 04, 2021. These consolidated financial results have been subject tolimited review by the Statutory Central Auditor of the Bank.

3. In accordance with Securities and Exchange Board of India (SEBD regulations, for thepurpose of consolidated financial results of the quarter ended June 30, 202L, minimum eightypercent of each of consolidated revenue, assets and profit have been subject to limitedreview/ audit.

4. The above consolidated financial results of State Bank of India (SBI or the Bank) include theresults of SBI and following 27 Subsidiaries, 8 foint Ventures andLT Associates (including14 Regional Rural Banks), referred to as the "Group":

\I

Sr no.

1

Name of Subsidiary

SBI Capital Markets Limited

2. SBICAP Securities Limited 16

J SBICAP Trustee Company Limited 17 SBI Funds Management (International)Pvt. Ltd.

4.

5

18SBICAP Ventures Limited

6

SBICAP (Singapore) LimitedSBI DFHI Limited

7

SBI Canada Bank

SBI Global Factors Limited8

State Bank of India (California)SBI Infra Management Solutions Pvt. Ltd.

9 SBI Mutual Fund Trustee Company Fvt.

10

Ltd.

11

%SBI Payment Services Private Limited

12.

SBI Pension Funds Private Limited

Sr no.

Nepal SBI Bank Limited13

SBI Life Insurance Company Limited

L4

b

SBI General Insurance Company Limited

15

SBI Cards and PaymentServices Limited

SBI-SG Global Securities Services Pvt. Ltd.

SBI Funds Management Private Limited

Name of Subsidiary

19

Commercial Indo Bank Llc, Moscow

20

Bank SBI Botswana Limited

21

22

23

State Bank of India (UK) LimitedState Bank of India Servicos Limitada

25.

SBI (Mauritius) Limited

26.

PT Bank SBI Indonesia

27

\J

Nepal SBI Merchant Banking Limited

Name of |oint VentureSr no.

C - Edge Technologies Ltd.

Pvt. Ltd.

1

Macquarie SBIManagement Pte. Ltd.

Sr no.

1

2.

Andhra Pradesh Grameena Vikas Bank

Name of Associate

3.

Infrastructure

Arunachal Pradesh Rural Bank

4.

Chhattisgarh Rajya Gramin Bank

5

Ellaquai Dehati Bank

Sr no.

6

Meghalaya Rural Bank

Infrastrucfure

7

Madhyanchal Gramin Bank

5

8

Mizoram Rural Bank

6

9

Name of Joint Venture

Macquarie SBI Infrastructure Trustee Ltd.

Nagaland Rural Bank

5. The above consolidated financial results for the quarter ended June 30, 2021 have beenarrived at after considering necessary provisions for Non-Performing Assets (NPAs),Standard Assets, Standard Derivative Exposures, Restructured Assets and InvestrnentDepreciation/ Provision. Provisions for Contingencies, Employee Benefits, Direct Taxes(after adjustrnent for Deferred Tax) and in respect of other assets / items are made onestimated basis.

Utkal Grameen Bank

Oman India Joint Investment Fund -Management Company Pvt. Ltd.

7 Oman India Joint Investrnent FundTrustee Company Pvt. Ltd.

8. Jio Payments Bank Ltd

Sr no.

6. The above consolidated financial results for the quarter ended June 30, 2021 have beenprepared in accordance with the Significant Accounting Policies stated in the annualconsolidated financial statements of the Bank for the year ended March 3'1,,202'1,.

10

11,.

Uttarakhand Gramin Bank

Name of Associate

2.

12

13.

14.

SBI MacquarieManagement Pvt. Ltd.

J

15.

16.

SBI Macquarie Infrastructure Trustee

4

Jharkhand Rajya Gramin Bank

7. Pursuant to exercise of options under the approved Employee Stock Option Plan (ESOP),following group entities have issued equity shares to their eligible employees:-

Saurashtra Gramin Bank

Rajasthan Marudhara Gramin Bank

Telangana Grameena Bank

17

a. SBI Cards and Payments Services Limited has allotted 5,23,398 equity shares amountingto t 0.52 crore during the quarter ended June 30, 202L. Consequently, the stake of SBIGroup in SBI Cards and Payments Services Limited has reduced to 69.35o/o from69.39%.

b. SBI Life Insurance Company Limited has allotted 74,537 equity shares amounting to< 0.07 crore during the quarter ended June 30, 2021". Consequently, the stake of SBI Groupin SBI Life Insurance Company Limited has reduced to55.49% from 55.50%.

h 19

The Clearing Corporation of lndia LtdYes Bank LimitedBank of Bhutan Ltd.

8 The financials of SBICAP (Singapore) Ltd. and Bank SBI Botswana Limited have beenprepared on non-going concern basis, however there is no material impact on the financialsfrom changing the accounting basis to non-going concern basis. The details are as below: -

> SBICAP (Singapore) Limited, a wholly owned step down srrbsidiary of SBI, had appliedto surrender its Capital Market Service License (CMSL) issued by Monetary Authority ofSingapore (MAS'). The MAS vide an email dated May 04,2021. approved the cancellationof Capital Market Service License with effect from the date of email.

for "voluntary liquidation" and settled all its external liabilities. Effective from June 30,202'l' the subsidiary has ceased carrying any banking business and surrendered itsbanking license to the regulator.

The total assets, total income and Net profit/ (loss) after tax of the above subsidiaries for thequarter ended June 30, 2021is as below: -

{ in croreParticulars

Total Assets

9

Total lncomeNet Profit / (Loss) after tax (5.80)

As per RBI Circulars DBR.No.BP.15199/21.04.048/20'1.6-17 and DBR.No.BP.1906/ 21.04.048/2017-18 dated Jtne23,2017 and August 28,2017 respectively, for the accounts covered underthe provisions of Insolvency and Bankruptcy Code (IBC), SBI is holding total provision of< 4,585 crore (100% of total outstanding) as on June 30,2021.

10. The spread of COVID-19 pandemic across the globe has resulted decline in economicactivities and movement in financial markets. In this situatiory Bank is gearing up itself on allfronts to meet the challenges. The situation continues to be uncertain and the Bank isevaluating the situation on an ongoing basis. Major challenges for the Bank could be fromextended working capital cycles, fluctuating cash flow trends and probable inability of theborrowers to meet their obligations against the loans timely. The Bank is proactivelyproviding against the challenges of likely stress on the Bank's assets. A definitive assessmentof the impact of COVID-19 is dependent upon circumstances as they evolve in thesubsequent period.

Bank SBI BotswanaLimited

72.02

SBICAPLimited

0.29

'lhe tsank has proactively made an additional provision towards the possible impact ofCOVID-19 pandemic, on the basis of the evaluation and regular assessment. The saidprovision is in addition to the provisions held as per RBI guidelines as regards loan lossprovisions. On the basis of above-mentioned assessment, Bank's management is notexpecting any significant impact on Bank's liquidity or profitability.

(0.03)

(0.86)

The total provision in SBI for COVID-19 uncertainty as on June 30, 2021" is t 9,065 crore.

59.74

,4,d/e V\

(Singapore)

Type ofborrower

PersonalLoans

(A)Number ofaccountswhereresolutionplan has beenimplementedunder thiswindow

(B)Exposure toaccountsmentioned at (A)beforeimplementationof the plan

Others

15,285Corporatepersons*

MSMEsof zohich,

2,977

9,954

4,959

(c)of (B),aggregateamount ofdebt thatwasconvertedinto othersecurities

(t in crore)

60,31354

60,222

*As defined in Section 3(7) of the Insolaency and Bankruptcy Code, 2016

Total

(D)Additionalfundingsanctioned, ifanlr includingbetweeninvocation of theplan andimplementation

75,599

12.In terms of RBI circular DOR.STR.REC.11./21..04.048/2021.-22 dated May 5, 202'1, SBIimplemented a resolution plan in respect of 52,052borrowers amounting to7 5,246 crore.

&

13. The figures for the quarter ended March 31,, 202'J, are the balancing figures between auditedfigures in respect of financial year 2020-21 and the published year to date figures uptoDecember 31,2020.

(E)

Increase inprovisions onaccount of theimplementation ofthe resolutionplan

12,937

11. In terms of RBI circular DOR. No. BP.BC/3/21,.04.048/2020-21 dated August 6 2020, thedetailed requirement as per Resolution Framework for COVID-19 related Stress during thequarter ended June 3Q 202'1, is given below:

1.,503

64 1,949

1h-X/k v

446

744

14. Previous period/ year figures have been regrouped/ reclassified, wherever necessary, toconform to current period classification.

r

Ashwini Tewari

Director

(IB, T & S)

Place: MumbaiDate: August04,202l

SwaminathanJ.

Managing Director

(& c c SARG)

Ashwani Bhatia

Managing Director

(cB & GM)

u Setty

Managing Director

(R & DB)

\==B^q4:Dinesh Kumar Khara

Chairman

In terms of our Report of even dateFor Khandelwal ]ain & Co.

Chartered AccountantsFirm Registration No. 105M9W

I

AlpeshWaghelaPartner

Membership No.142058

Website: www.kico.nel o E-moil: [email protected]

6-B&C, Pil Court, 6th Floor,'I I 1, M. Korve Rood, Churchgole,Mumbqi - 400 020.Tel.: (+9r -2214311 5000Fox:4311 5050

KHANDELWALJAII\ & CO.CHARTERED ACCOUNTANTS

l2-8, Boldoto Bhqvon, 5th Floor,117, M. Korve Rood, Churchgote,

Mumboi - 400 020.Tel.r (+91 -22l-4311 6000

Fox:431 I 6060

7

lndependent Audito/s Review Report on quarterly Unaudited Consolidated Financial Results

of State Bank of lndia pursuant to the Regulation 33 of the SEBI (Listing Obligations and

Disclosure Requirements) Regulations, 2015.

To

The Board of Directors

State Bank of lndia,

State Bank Bhavan,

Madame Cama Road,

Mumbai- 40002L.

We have reviewed the accompanying Statement of Consolidated Unaudited Financial

Results of State Bank of lndia ("the Parent" or "the Bank") and its subsidiaries (the Parent

and its subsidiaries together referred to as "the Group"), its jointly controlled entities and its

share of the net profit/(loss) after tax of its associates for the quarter ended June 30, 202L

("the Statement"), being submitted by the Parent pursuant to the requirement of

Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,

2015, as amended ("the Regulation"). The disclosure relating to consolidated Pillar 3 as at

June 30, 2021, including leverage ratio and liquidity coverage ratio under Basel lll Capital

Regulations have been disclosed on the Bank's website and in respect of which a link has

been provided in the Statement and have not been reviewed by us.

2. The Statement, which is the responsibility of the Parent's Management and approved by the

Parent's Board of Directors, has been prepared in accordance with the recognition and

measurement principles laid down in Accounting Standard 25 "lnterim Financial Reporting"

("AS 25") prescribed under Section 133 of the Companies Act, 2013, the relevant provisions

of the Banking Regulation Act, 1949, the circulars, guidelines and directions issued by the

Reserve Bank of lndia (RBl) from time to time ("RBl Guidelines") and other accounting

principles generally accepted in lndia. Our responsibility is to express a conclusion on the

Statement based on our review.

Page I of6

KHANDELWAL JAIN & CO.CHARTERED ACCOUNHNTS

3. We conducted our review of the Statement in accordance with the Standard on Review

Engagements (SRE) 2410 "Review of lnterim Financial lnformation Performed by the

lndependent Auditor of the Entity", issued by the lnstitute of Chartered Accountants of India.

A review of interim financial results consists of making inquiries, primarily of persons

responsible for financial and accounting matters, and applying analytical and other review

procedures. A review is substantially less in scope than an audit conducted in accordance

with Standards on Auditing and consequently does not enable us to obtain assurance that

we would become aware of all significant matters that might be identified in an audit.

Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the SEBI under

Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,

2015, as amended, to the extent applicable.

4. The Statement includes the results of the following entities:

Nepal SBI Bank Ltd.

Sr

No.

Sr

GONTINUATION SHEET

No.

T 15SBI Capital Markets Ltd.

2 SBICAP Securities Ltd. 16

Name of Subsidiary

L73

4 18

SBICAP Trustee Company Ltd

19

6 20

5

7 2L

SBICAP Ventures Ltd

22

SBICAP (Singapore) Ltd

23

24

11

SBI DFHI Ltd

SBI Pension Funds Pvt Ltd

SBI Life lnsurance Company Ltd 26

SBI Global Factors Ltd

8

27

SBI lnfra Management Solutions Pvt.

Ltd.

9 SBI Mutual Fund Trustee Company

Pvt Ltd,

10

SBI-SG Global Securities Services Pvt.

Ltd.

Name of Subsidiary

SBI Payment Services Pvt. Ltd.

L2

SBI Funds Management Pvt. Ltd

13

SBI Funds Management

( I nternational) Private Ltd

14

SBI General lnsurance Company Ltd.

Commercial lndo Bank Llc, Moscow

SBI Cards and Payment Services

Limited

Bank SBI Botswana Limited

SBI Canada Bank

State Bank of lndia (California)

State Bank of lndia (UK) Limited

State Bank of lndia Servicos Limitada

25

SBI (Mauritius) Ltd

PT Bank SBI lndonesia

Page 2 ot 6

NepalSBl Merchant Banking Limited

KHANDELWAL JAIN & CO.CHARTERED ACCOUNTANTS

Yes Bank Limited

T7

Sr.

No.

L


C - Edge Technologies Ltd

2

3

4

Sr

Sr.

No.

No.

L

5

CONTINUATION SHEET

Andhra Pradesh Grameena Vikas

Bank

2

Macquarie SBI lnfrastructure Trustee

Name of Associate


5

3

Ltd.

Arunachal Pradesh Rural Bank

4

Oman lndia Joint lnvestment Fund -Management Company Pvt. Ltd.

Chhattisgarh Rajya Gramin Bank

7

5

EllaquaiDehati Bank

6

Oman lndia Joint lnvestment Fund -Management Company Pvt, Ltd.

Meghalaya Rural Bank

8

7

Madhyanchal Gramin Bank

Jio Payments Bank Ltd.

8

Mizoram Rural Bank

9

5

Sr.

No

Nagaland Rural Bank

Based on our review conducted and procedures performed as stated in paragraph 3 above

and based on the consideration of the review reports of the other auditors referred to in

paragraph 7 below, nothing has come to our attention that causes us to believe that the

accompanying Statement, prepared in accordance with the recognition and measurement

principles laid down in the aforesaid Accounting Standards, RBI Guidelines and other

accounting principles generally accepted in lndia, has not disclosed the information required

to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure

Requirements) Regulations, 2015, as amended, including the manner in which it is to be

disclosed, except for the disclosures relating to consolidated Pillar 3 disclosure as at June 30,

202L, including leverage ratio and liquidity coverage ratio under Basel lll Capital Regulations

Utkal Grameen Bank

10 Uttarakhand Gramin Bank

L1.

Name of Associate

SBI Macquarie lnfrastructure

Management Pvt. Ltd.

L2

13

SBI Macquarie lnfrastructure Trustee

Pvt. Ltd.

L4

15

16

Macquarie SBI lnfrastructure

Management Pte. Ltd.

Jharkhand Rajya Gramin Bank

Saurashtra Gramin Bank

Rajasthan Marudhara Gramin Bank

Telangana Grameena Bank

Page 3 of 6

The Clearing Corporation of lndia Ltd

as have been disclosed on the Bank's website and in respect of which a link has

Bank of Bhutan Ltd

KHANDELWALJAIN & CO. CONTINUATION SHEET

CHARTERED ACCOUNHNTS

provided in the Statement and have not been reviewed by us, or that it contains any material

misstatement.

6. We draw attention to Note No. 10 of the Statement regarding impact of COVID-19 pandemic

on Group's operations and financial results. The situation continues to be uncertain and the

Group is evaluating it on an ongoing basis with respect to the challenges faced.

Our conclusion is not modified in respect of above matter.

7. We did not review the interim financial results of 76 branches included in the standalone

unaudited interim financial results of the entities included in the Group, whose results reflect

totalassets of Rs. 26,45,135 crore as atJune 30,202L and total revenues of Rs.42,574 crore

for the quarter ended June 30, 2O2I, as considered in the respective standalone unaudited

interim financial results of the entities included in the Group. The interim financial results of

these branches have been reviewed by the branch auditors and other auditors whose

reports have been furnished to us or other auditors, and our conclusion in so far as it relates

to the amounts and disclosures included in respect of these branches, is based solely on the

report of such branch auditors and other auditors.

Apart from above, in the conduct of our review, we also did not review the interim financial

results of L,78I branches included in the standalone unaudited interim financial results of

the entities included in the Group, whose results reflect total assets of Rs. 6,84,859 crore as

at June 30,2OZL and total revenue of Rs. 13,647 crore for the quarter ended June 3O,2027,

as considered in the respective standalone unaudited interim financial results of the entities

included in the Group. The interim financial results of these branches have been reviewed by

the branch managers whose certified returns have been furnished to us or other auditors,

and our conclusion in so far as it relates to the amounts and disclosures included in respect

of these branches, is based solely on the certified returns of such branch managers and other

auditors.

We did not review / audit the interim financial results of 18 subsidiaries (including 1 audited

subsidiary) and 1 jointly controlled entity included in the Statement, whose interim financial

results, before consolidation adjustments, reflect total assets of Rs. 3,L2,469 crore as at June

30, 2O2L and total revenues of Rs. 76,367 crore and total net profit after tax of Rs. 1,107

crore for the quarter ended June 30, 2O2I, as considered in the Statement. The Statement

also includes the Group's share of net profit after tax of Rs. 171 crore for the quarter ended

Page 4 of 6

KHANDELWAL JAIN & CO. CONTINUATION SHEET

CHARTERED ACCOUNTANTS

June 30, 202I, as considered in the Statement, in respect of 9 associates, based on their

interim financial results which have not been reviewed/audited by us. These interim financial

results have been reviewed/audited by other auditors whose reports have been furnished to

us by the Management and our conclusion on the Statement, in so far as it relates to the

amounts and disclosures included in respect of these subsidiaries and jointly controlled

entities & associates, is based solely on the reports of the other auditors which have been

relied upon by us and the procedures performed by us as stated in paragraph 3 above.

Our conclusion on the Statement is not modified in respect of the above matters.

8. The Statement include the interim financial results, which have not been reviewed / audited,

of 22,945 branches included in the standalone unaudited interim financial results of the

entities included in the Group, whose results reflect total assets of Rs. 11,80,323 crore as at

June 30, 202L and total revenue of Rs. 20,337 crore for the quarter ended June 30, 2O2I, as

considered in the respective standalone unaudited interim financial results of the entities

included in the Group.

The Statement includes the interim financial results of 9 subsidiaries and 7 jointly controlled

entities which have not been reviewed / audited by their auditors, whose interim financial

results reflect total assets of Rs. 34,927 crore as at June 30, 2O2I and total revenue of

Rs. 328 crore and total net profit after tax of Rs. 70 crore for the quarter ended June 30,

202L,as considered in the Statement. The Statement also includes the Group's share of net

loss of Rs. 8 crore for the quarter ended June 30, 202L, as considered in the Statement, in

respect of 8 associates, based on their interim financial results which have not been

reviewed / audited by their auditors.

Our conclusion on the Statement is not modified in respect of the above matters.

9. The actuarial valuation of liabilities for life policies in force and for policies in respect of

which premium has been discontinued but liability exists as at June 30,202L in respect of a

subsidiary, namely SBI Life lnsurance Company Limited, has been duly certified by the

Appointed Actuary of the respective subsidiary and in their opinion, the assumptions for

such valuation are in accordance with the guidelines and norms issued by the lnsurance

Regulatory and Development Authority of lndia (lRDAI) and the lnstitute of Actuaries of lndia

in concurrence with lRDA|. The respective auditors of these subsidiaries have relied upon the

Page 5 of 6

KHANDELWALJAIN & CO. CONTINUATION SHEET

CHARTERED ACCOUNTANTS

Appointed Actuary's certificate in this regard in forming their conclusion on condensed

interim financial statements of the said subsidiaries.

Our conclusion is not modified in respect of this matter

For KhandelwalJain & Co.


Firm Regi tion No. 105049W

L,

Alpesh Waghela

Partner

Membership No.: L42O58

UDIN: 2LL42O58A AACS9548

Place: Mumbai

Date : August 04,2027

Page 6 of 6

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