SBI剝離SBI生活中的10％股權

印度國民銀行已通知BSE，中央董事會（ECCB）的執行委員會于2015年3月30日在SBI人壽保險有限公司中授權培養了高達10％.SBI最近表示，“ECCB決

定按照JV（合資企業）協議啟動必要的行動，以便在SBI總保險中稀釋SBI的股權，從76％增加到51％，相應增加IAG的股權從26％增加到49％，包括任命估值師以促進估值估值和價格發現。“本月早些時

候，議會通過了保險法（修訂）條例草案，旨在將私營部門公司的外國投資增加到現有26％的49％，以及其他事項。

增加股權的提案在公司的資本要求的背景下。

印度國家銀行 - 獨立同行比較和財務分析

同伴比較

細節m cap（rs cr）帕特（盧比）p / bv（x）P / E（x）ROA（％）ROE（％）車 （％）gnpl（％）nnpl / nw（％）BANKHDFC BANK LTD.259,8118,4785.026.71.921.316.11.01.9印度銀行200,00710,8911.616.10.610.012.45.026.3CICI銀行LTD184,5449,8102.316.91.714.017.73.04.5

金融

收入證明

Y / E 31 Mar（Rs Cr）FY11FY12FY13FY14利息收入81,394106,521119,655136,351 internest費用（48,868）（63,230）（75,326）（87,069）凈利息收入32,526 43,291 44,329 49,282non-yex收入15,82514,35116,03718,553總數48,351 57,643 60,366 67,835Total OP費用（23,015）（26,069）（29,284）（35,726）op利潤（預先）25,336 31,574 31,082 32,109托特特（10,381）（13,090）（11,131）（11,131）稅前稅前利潤14,954 18,483 19,951 16,174tax（6,690） （6,776）（5,846）（5,283）凈利潤8,265 11,707 14,105 10,891

資產負債表

Y / E 31 Mar（Rs Cr）FY11FY12FY13FY14總現金和平等現金1222,87497,163114,820132,550€495,601312,198350,878398,308350,878398,308350,8783171,209,878,8171,209,829丁基股票資產1,175,1941,276,9401,511,3141,740,687 assets4,7645,2119885858585858585858585858558585585858558585585585585585585855858558585585585858555858585858585855855858858585558585855858558558558555 006169,183183,131total int-bear lotal int-beab1,053,583183,11,05,24880,92595,577,539880,92595,577,46,413總負債1,158,750 1,251,568 1,467,328 1,673,952股票+總李1,223,7361,335,519 1,566,211 1,792,235

關鍵比率

Y / E 31 MarFY11FY12FY13FY14生長矩陣（％）凈利息收入37.433.12.411.2TOTAL op收入25.119.24.712.4 op利潤（預先）38.324.6（1.6）3.3NET利潤（9.8）41.720.5（22.8）推廣19.814.720.515.7DEPOSITS16 .111.715.215.9營銷性比率（％）NIM3.33.93.33.2NON-INT INC / TOIL INC32.724.926.627.47.4724.9.627.4 return在AVG EQUITY12.615.715.410.0RETURNS上AVG ASSETS0.70.91.00.6股票比率（rs）adj.bvps82.9101.5112.5116.8dps3.03.54.23.0valuation比率（x）p / e21.312.010.113.1p / adj.bvps3.22.62.42.3其他鍵比（％）信用/存款81.083.186.986.8cost /income47.645.248.552.7CASA49.444.844.842.912.013.912.912.4TIER-I BUILICE7.89.89.59.77.77.7.7.7.7.7.7.85.0PLOV / AVG LOANS1.51.61.21.4NET NPLS / NET LOANS1.61.82.12.6TAX Rate44.736.729.332.7Dividend產量11.213.115.511.2
印度國家銀行 - 獨立同行比較和財務分析

同伴比較

細節m cap（rs cr）帕特（盧比）p / bv（x）P / E（x）ROA（％）ROE（％）車 （％）gnpl（％）nnpl / nw（％）BANKHDFC BANK LTD.259,8118,4785.026.71.921.316.11.01.9印度銀行200,00710,8911.616.10.610.012.45.026.3CICI銀行LTD184,5449,8102.316.91.714.017.73.04.5

金融

收入證明

Y / E 31 Mar（Rs Cr）FY11FY12FY13FY14利息收入81,394106,521119,655136,351 internest費用（48,868）（63,230）（75,326）（87,069）凈利息收入32,526 43,291 44,329 49,282non-yex收入15,82514,35116,03718,553總數48,351 57,643 60,366 67,835Total OP費用（23,015）（26,069）（29,284）（35,726）op利潤（預先）25,336 31,574 31,082 32,109托特特（10,381）（13,090）（11,131）（11,131）稅前稅前利潤14,954 18,483 19,951 16,174tax（6,690） （6,776）（5,846）（5,283）凈利潤8,265 11,707 14,105 10,891

資產負債表

Y / E 31 Mar（Rs Cr）FY11FY12FY13FY14總現金和平等現金1222,87497,163114,820132,550€495,601312,198350,878398,308350,878398,308350,8783171,209,878,8171,209,829丁基股票資產1,175,1941,276,9401,511,3141,740,687 assets4,7645,2119885858585858585858585858558585585858558585585585585585585855858558585585585858555858585858585855855858858585558585855858558558558555 006169,183183,131total int-bear lotal int-beab1,053,583183,11,05,24880,92595,577,539880,92595,577,46,413總負債1,158,750 1,251,568 1,467,328 1,673,952股票+總李1,223,7361,335,519 1,566,211 1,792,235

關鍵比率

Y / E 31 MarFY11FY12FY13FY14生長矩陣（％）凈利息收入37.433.12.411.2TOTAL op收入25.119.24.712.4 op利潤（預先）38.324.6（1.6）3.3NET利潤（9.8）41.720.5（22.8）推廣19.814.720.515.7DEPOSITS16 .111.715.215.9營銷性比率（％）NIM3.33.93.33.2NON-INT INC / TOIL INC32.724.926.627.47.4724.9.627.4 return在AVG EQUITY12.615.715.410.0RETURNS上AVG ASSETS0.70.91.00.6股票比率（rs）adj.bvps82.9101.5112.5116.8dps3.03.54.23.0valuation比率（x）p / e21.312.010.113.1p / adj.bvps3.22.62.42.3其他鍵比（％）信用/存款81.083.186.986.8cost /income47.645.248.552.7CASA49.444.844.842.912.013.912.912.4TIER-I BUILICE7.89.89.59.77.77.7.7.7.7.7.7.85.0PLOV / AVG LOANS1.51.61.21.4NET NPLS /
NET LOANS1.61.82.12.6TAX率為44.736.729.332.7dividend產量11.213.115.511.2印度國家銀行 - 獨立同行比較和財務分析

同伴比較

細節m cap（rs cr）帕特（盧比）p / bv（x）P / E（x）ROA（％）ROE（％）車 （％）gnpl（％）nnpl / nw（％）BANKHDFC BANK LTD.259,8118,4785.026.71.921.316.11.01.9印度銀行200,00710,8911.616.10.610.012.45.026.3CICI銀行LTD184,5449,8102.316.91.714.017.73.04.5

金融

收入證明

Y / E 31 Mar（Rs Cr）FY11FY12FY13FY14利息收入81,394106,521119,655136,351 internest費用（48,868）（63,230）（75,326）（87,069）凈利息收入32,526 43,291 44,329 49,282non-yex收入15,82514,35116,03718,553總數48,351 57,643 60,366 67,835Total OP費用（23,015）（26,069）（29,284）（35,726）op利潤（預先）25,336 31,574 31,082 32,109托特特（10,381）（13,090）（11,131）（11,131）稅前稅前利潤14,954 18,483 19,951 16,174tax（6,690） （6,776）（5,846）（5,283）凈利潤8,265 11,707 14,105 10,891

資產負債表

Y / E 31 Mar（Rs Cr）FY11FY12FY13FY14總現金和平等現金1222,87497,163114,820132,550€495,601312,198350,878398,308350,878398,308350,8783171,209,878,8171,209,829丁基股票資產1,175,1941,276,9401,511,3141,740,687 assets4,7645,2119885858585858585858585858558585585858558585585585585585585855858558585585585858555858585858585855855858858585558585855858558558558555 006169,183183,131total int-bear lotal int-beab1,053,583183,11,05,24880,92595,577,539880,92595,577,46,413總負債1,158,750 1,251,568 1,467,328 1,673,952股票+總李1,223,7361,335,519 1,566,211 1,792,235

關鍵比率

Y / E 31 MarFY11FY12FY13FY14生長矩陣（％）凈利息收入37.433.12.411.2TOTAL op收入25.119.24.712.4 op利潤（預先）38.324.6（1.6）3.3NET利潤（9.8）41.720.5（22.8）推廣19.814.720.515.7DEPOSITS16 .111.715.215.9營銷性比率（％）NIM3.33.93.33.2NON-INT INC / TOIL INC32.724.926.627.47.4724.9.627.4 return在AVG EQUITY12.615.715.410.0RETURNS上AVG ASSETS0.70.91.00.6股票比率（rs）adj.bvps82.9101.5112.5116.8dps3.03.54.23.0valuation比率（x）p / e21.312.010.113.1p / adj.bvps3.22.62.42.3其他鍵比（％）信用/存款81.083.186.986.8cost /income47.645.248.552.7CASA49.444.844.842.912.013.912.912.4TIER-I BUILICE7.89.89.59.77.77.7.7.7.7.7.7.85.0PLOV / AVG LOANS1.51.61.21.4NET NPLS /
NET LOANS1.61.82.12.6TAX率為44.736.729.332.7dividend產量11.213.115.511.2印度國家銀行 - 獨立同行比較和財務分析

同伴比較

細節m cap（rs cr）帕特（盧比）p / bv（x）P / E（x）ROA（％）ROE（％）車 （％）gnpl（％）nnpl / nw（％）BANKHDFC BANK LTD.259,8118,4785.026.71.921.316.11.01.9印度銀行200,00710,8911.616.10.610.012.45.026.3CICI銀行LTD184,5449,8102.316.91.714.017.73.04.5

金融

收入證明

Y / E 31 Mar（Rs Cr）FY11FY12FY13FY14利息收入81,394106,521119,655136,351 internest費用（48,868）（63,230）（75,326）（87,069）凈利息收入32,526 43,291 44,329 49,282non-yex收入15,82514,35116,03718,553總數48,351 57,643 60,366 67,835Total OP費用（23,015）（26,069）（29,284）（35,726）op利潤（預先）25,336 31,574 31,082 32,109托特特（10,381）（13,090）（11,131）（11,131）稅前稅前利潤14,954 18,483 19,951 16,174tax（6,690） （6,776）（5,846）（5,283）凈利潤8,265 11,707 14,105 10,891

資產負債表

Y / E 31 Mar（Rs Cr）FY11FY12FY13FY14總現金和平等現金1222,87497,163114,820132,550€495,601312,198350,878398,308350,878398,308350,8783171,209,878,8171,209,829丁基股票資產1,175,1941,276,9401,511,3141,740,687 assets4,7645,2119885858585858585858585858558585585858558585585585585585585855858558585585585858555858585858585855855858858585558585855858558558558555 006169,183183,131total int-bear lotal int-beab1,053,583183,11,05,24880,92595,577,539880,92595,577,46,413總負債1,158,750 1,251,568 1,467,328 1,673,952股票+總李1,223,7361,335,519 1,566,211 1,792,235

關鍵比率

Y / E 31 MarFY11FY12FY13FY14生長矩陣（％）凈利息收入37.433.12.411.2TOTAL op收入25.119.24.712.4 op利潤（預先）38.324.6（1.6）3.3NET利潤（9.8）41.720.5（22.8）推廣19.814.720.515.7DEPOSITS16 .111.715.215.9營銷性比率（％）NIM3.33.93.33.2NON-INT INC / TOIL INC32.724.926.627.47.4724.9.627.4 return在AVG EQUITY12.615.715.410.0RETURNS上AVG ASSETS0.70.91.00.6股票比率（rs）adj.bvps82.9101.5112.5116.8dps3.03.54.23.0valuation比率（x）p / e21.312.010.113.1p / adj.bvps3.22.62.42.3其他鍵比（％）信用/存款81.083.186.986.8cost /income47.645.248.552.7CASA49.444.844.842.912.013.912.912.4TIER-I BUILICE7.89.89.59.77.77.7.7.7.7.7.7.85.0PLOV / AVG LOANS1.51.61.21.4NET NPLS /
NET LOANS1.61.82.12.6TAX率為44.736.729.332.7dividend產量11.213.115.511.2印度國家銀行 - 獨立同行比較和財務分析

同伴比較

細節m cap（rs cr）帕特（盧比）p / bv（x）P / E（x）ROA（％）ROE（％）車 （％）gnpl（％）nnpl / nw（％）BANKHDFC BANK LTD.259,8118,4785.026.71.921.316.11.01.9印度銀行200,00710,8911.616.10.610.012.45.026.3CICI銀行LTD184,5449,8102.316.91.714.017.73.04.5

金融

收入證明

Y / E 31 Mar（Rs Cr）FY11FY12FY13FY14利息收入81,394106,521119,655136,351 internest費用（48,868）（63,230）（75,326）（87,069）凈利息收入32,526 43,291 44,329 49,282non-yex收入15,82514,35116,03718,553總數48,351 57,643 60,366 67,835Total OP費用（23,015）（26,069）（29,284）（35,726）op利潤（預先）25,336 31,574 31,082 32,109托特特（10,381）（13,090）（11,131）（11,131）稅前稅前利潤14,954 18,483 19,951 16,174tax（6,690） （6,776）（5,846）（5,283）凈利潤8,265 11,707 14,105 10,891

資產負債表

Y / E 31 Mar（Rs Cr）FY11FY12FY13FY14總現金和平等現金1222,87497,163114,820132,550€495,601312,198350,878398,308350,878398,308350,8783171,209,878,8171,209,829丁基股票資產1,175,1941,276,9401,511,3141,740,687 assets4,7645,2119885858585858585858585858558585585858558585585585585585585855858558585585585858555858585858585855855858858585558585855858558558558555 006169,183183,131total int-bear lotal int-beab1,053,583183,11,05,24880,92595,577,539880,92595,577,46,413總負債1,158,750 1,251,568 1,467,328 1,673,952股票+總李1,223,7361,335,519 1,566,211 1,792,235

關鍵比率

Y / E 31 MarFY11FY12FY13FY14生長矩陣（％）凈利息收入37.433.12.411.2TOTAL op收入25.119.24.712.4 op利潤（預先）38.324.6（1.6）3.3NET利潤（9.8）41.720.5（22.8）推廣19.814.720.515.7DEPOSITS16 .111.715.215.9營銷性比率（％）NIM3.33.93.33.2NON-INT INC / TOIL INC32.724.926.627.47.4724.9.627.4 return在AVG EQUITY12.615.715.410.0RETURNS上AVG ASSETS0.70.91.00.6股票比率（rs）adj.bvps82.9101.5112.5116.8dps3.03.54.23.0valuation比率（x）p / e21.312.010.113.1p / adj.bvps3.22.62.42.3其他鍵比（％）信用/存款81.083.186.986.8cost /income47.645.248.552.7CASA49.444.844.842.912.013.912.912.4TIER-I BUILICE7.89.89.59.77.77.7.7.7.7.7.7.85.0PLOV / AVG LOANS1.51.61.21.4NET NPLS / NET LOANS1.61.82.12.6TAX Rate44.736.729.332.7Dividend產量11.213.115.511.2