Ratio Analysis

SBI vs HDFC Bank vs ICICI Bank

Presented By:
Abdul Mulla
Dipti Bharwada
Jayesh Mankame
Prachi Jadhav
Vinit Singh
Vaibhav Patki
 Current Ratio
SBI ICICI
0.07 0.14
0.06 0.12
0.05 0.1
0.04 0.07 0.08 0.13
0.11
0.03 0.05 0.06 0.09
0.04
0.02
0.04
0.02
0.01
0
0 Mar '07 Mar '08 Mar '09
Mar '07 Mar '08 Mar '09

HDFC
0.04
0.04
0.03
0.03 0.04 0.04 0.04 Winner- ICICI Bank
0.02
0.02
0.01
0.01
0
Mar '07 Mar '08 Mar '09
 Quick Ratio
SBI ICICI

Mar '09 5.94

Mar '09 5.74

Mar '08 6.42

Mar '08 6.15

Mar '07 6.04

Mar '07 6.52

5.5 5.6 5.7 5.8 5.9 6 6.1 6.2 6.3 6.4 6.5
5.5 5.7 5.9 6.1 6.3 6.5 6.7

HDFC

Mar '09 5.23

Winner- HDFC Bank

Reason- Increasing trends
Mar '08 4.89

Mar '07 4.07

3 3.5 4 4.5 5 5.5

 Earning Per Share
SBI ICICI
145 143.67 38
37.37
135 37

125
36
115
106.56 35
34.59
105
34 33.78
95
86.29 33
85
32
75 Mar '07 Mar '08 Mar '09
Mar '07 Mar '08 Mar '09

54
HDFC
52.77

Winner- SBI
52

50

48
Reason- Highest EPS
46
44.87
44
43.29

42

40
Mar '07 Mar '08 Mar '09
 Operating Expense Ratio
SBI ICICI
28.87
28.19
29 29
27 24.13 28
25 22.91

23 27 26.22
26
21
19 26
17
25
15
Mar '07 Mar '08 Mar '09
24
Mar Mar Mar

HDFC
35.06
40
35 28.21 29.55

30 Winner- HDFC Bank

25
20
15
10
5
0
Mar '07 Mar '08 Mar '09
 Return on Net Worth
SBI ICICI
16
14
15.5
13
15 12
15.74 11
14.5 15.41 13.17
10
14
9
7.58
13.5 13.72 8 8.94

7
13
Mar '07 Mar '08 Mar '09 6
Mar '07 Mar '08 Mar '09

HDFC

25
23 Winner- SBI
21
19
Reason- Fairly consistent
23.57
17 over 3 years
13.83
15
15.32
13
11
Mar '07 Mar '08 Mar '09
 Net Profit Margin
SBI ICICI
12.5
10.9
10.81

12 12.03 10.7
11.65
10.5 10.51
11.5
10.3
11 10.1
9.9
10.5
9.74
9.7
10.12
10 9.5
Mar '07 Mar '08 Mar '09 Mar '07 Mar '08 Mar '09

HDFC
14
13.57
13.5 Winner- SBI
13 12.82
Reason- Increasing
12.5
12
YoY
11.5 11.35
11
Mar '07 Mar '08 Mar '09
 Return on Capital Employed
SBI ICICI
8.96 8.99 10.62
9 10.65
8.9
10.45
8.8
10.25
8.7
8.6 10.05
8.46 9.9
8.5 9.85 9.65
8.4 9.65
8.3
9.45
8.2
9.25
8.1
Mar '07
8 Mar '08
Mar '07 Mar '09
Mar '08
Mar '09

HDFC
12.5 12.5
12 Winner- HDFC Bank
11.5
11
11.05
Reason- High returns
10.21
10.5
10
9.5
9
Mar '07
Mar '08
Mar '09
 Dividend per Share
SBI ICICI
35 32.90
12.5
12.38 12.36
30
12.25
25 24.13
12
20
16.38
11.75 11.72
15

10 11.5
Mar '07 Mar '08 Mar '09 Mar '07 Mar '08 Mar '09

HDFC
12
11.69
11.5 Winner- SBI
11 Reason- Highest DPS
10.5
9.92 9.94
10

9.5

9
Mar '07 Mar '08 Mar '09
 Dividend Payout Ratio
SBI ICICI
36.6
24 22.64 22.9 40 33.89 33.12
23 35 31
28.84 29.08
22 21.13
20.56 30
21 25
20 18.98
20
19
15
18 16.75
17 10
16 5
15 0
Mar '07 Mar '08 Mar '09 Mar '07 Mar '08 Mar '09

HDFC

25
24 22.91 Winner- ICICI Bank
22.16 22.16
23
22
21
20 18.93 19.1
19
18
16.32
17
16
15
Mar '07 Mar '08 Mar '09
 Price to Book Value
SBI ICICI

Mar '09
912.73 Mar '09
445.17
Mar '08
776.48
Mar '08
417.64
Mar '07
594.69
Mar '07
300 400 270.37
500 600 700 800 900 1000 0 50 100 150
200 250 300
350 400 450
HDFC

Mar '09
344.44

Mar '08 Winner- SBI

324.38
Mar '07
201.42
0 50 100 150
200 250
300 350
 Debt Equity Ratio
SBI ICICI
1.23 1.35
1.22
1.23 1.33
1.22 1.30 1.29
1.22
1.21
1.21 1.25
1.21 1.22
1.20 1.20
1.20
1.19
1.19 1.15
1.19
1.18
1.18

HDFC
1.291.28 Winner- SBI
1.28 Reason- Lowest amongst
1.28
1.27
the three
1.27
1.27
1.26 1.26
1.26
1.25
1.25
 Interest Coverage Ratio
SBI ICICI
Mar '09 1.39
Mar '09 1.42

Mar '08 1.34

Mar '08 1.41

Mar '07 1.65

Mar '07 1.53
0.00 0.20 0.40 0.60 0.80 1.00 1.20 1.40 1.60 1.80
1.34 1.36 1.38 1.40 1.42 1.44 1.46 1.48 1.50 1.52 1.54

HDFC
Mar '09 1.58

Mar '08 1.77 Winner- HDFC

Mar '07 2.25

0.00 0.50 1.00 1.50 2.00 2.50

 Capital Adequacy Ratio
15.53
14.25 16 ICICI 13.97
14.5 SBI
14 11.69
14 13.47
12
13.5
10
13 12.34 8
12.5
6
12
4
11.5
2
11
Mar '07 Mar '08 Mar '09 0
Mar '07 Mar '08 Mar '09

16
HDFC
15.5
15
14.5
14 15.69 Winner- ICICI
13.5
13 13.6
12.5 13.08

12
11.5
Mar '07 Mar '08 Mar '09
 Tier I & Tier II
Tier I capital Tier II Capital

Undisclosed reserves and

Paid-up Capital
cumulative preference shares

Statutory Reserves Revaluation Reserves

General Provisions and Loss

Disclosed Free Reserves
Reserves
Capital Reserves representing
surplus arising out of the sale Hybrid Debt capital Instruments
proceeds of assets

Equity investments in subsidiaries Subordinated Debt

Conclusion
SBI has a slight advantage over HDFC & ICICI

The reason for this can be that SBI is one of the largest
banks in India

It has a very high number of deposits

It also has a large customer base