Financial Analysis of Public and Private Sector Banks in India

(With Special reference to SBI and ICICI Bank of India)

*Dr. Santosh kumar Gupta, **Dr. Neeraj kumar

*Assistant Professor, Department of Commerce, Govt. P.G. College, Kotdwara

** Assistant Professor, Department of Commerce, Govt. P.G. College, Kotdwara

Abstract

Commercial banks are playing a very crucial role in providing the satisfaction to their

customer and try to motivate them for uplifting their financial status and provide the way

how to make the financial adjustment to their surplus funds. Therefore this paper has

focused the measure the profitability and customer satisfaction of public and private

sector bank in Uttarakhand. Measurement of profitability is one of the important parts of

bank's perception towards the customer and its investors. The element of banking

measurement is customer's perception that indicates the customer loyalty and consistency

towards the attitude and behavior of banking employee. This paper has also focused that

how customer are satisfied with overall activity of banks such as communication between

employee and customer, cash payment, awareness programme of banks regarding the

digital banking, and financial assistance etc. Therefore this paper has make some effort

for measuring the profitability and customer satisfaction between private and public

sector banks respectively ICICI and SBI. On the basis of this measurement of profitability

and customer satisfaction of ICICI and SBI bank, it is very easy to find out the efficiency

and capability of these two major private and public sector banks in India. The

measurement is done through the operating profit, net profit after tax, non performing

assets (NPA), and any other profitability instrument. These two banks ICICI and SBI have

lot of branches not only in India but abroad also and making their progressive efforts for

uplifting their economical status. The major aspect of ICICI and SBI are that how much

they are making their contribution towards the corporate social responsibility and

economic welfare of the society and how society is getting benefits from the financial

services as a mudra loan, housing loan, car loan, car loan, and personnel loan etc. These

two commercial banks are one of the important elements for giving the economic and

social pace in previous five years for employment opportunity, growth in national income,

growth of GDP through finance to the industrial areas and other financial activities.

Decreasing the repo rate of banks indicate the less financing to the individuals and

industrial areas and maintain the bank rate in very optimum level for the upgrading the

financial structure of the banking industries.

Key words: SBI, ICICI, Profitability, Satisfaction, economic growth, NPV, EPS etc.

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Introduction

The State Bank of India (SBI) is an Indian multinational, public Sector banking and

financial services statutory body. It is a government corporation statutory body

headquartered in Mumbai, Maharashtra. SBI is ranked as 216th in the Fortune Global 500

list of the world's biggest corporations of 2018. It is the largest bank in India with a 23%

market share in assets, besides a share of one-fourth of the total loan and deposits market.

The bank descends from the Bank of Calcutta, founded in 1806, via the Imperial Bank of

India, making it the oldest commercial bank in the Indian subcontinent. The Bank of

Madras merged into the other two "presidency banks" in British India, the Bank of

Calcutta and the Bank of Bombay, to form the Imperial Bank of India, which in turn

became the State Bank of India in 1955. In March 2001, SBI (with 74% of the total

capital), joined with BNP Paribas (with 26% of the remaining capital), to form a joint

venture life insurance company named SBI Life Insurance company Ltd. As of 31 March

2017, SBI group (including associate banks) has 59,291 ATMs. Since November 2017,

SBI also offers an integrated digital banking platform named YONO. As on 31 March

2017, Government of India held around 61.23% equity shares in SBI. The Life Insurance

Corporation of India, itself state-owned, is the largest non-promoter shareholder in the

company with 8.82% shareholding. The equity shares of SBI are listed on the Bombay

Stock Exchange, where it is a constituent of the BSE SENSEX index, and the National

Stock Exchange of India, where it is a constituent of the CNX Nifty. Its Global Depository

Receipts (GDRs) are listed on the London Stock Exchange. ICICI Bank Limited

(Industrial Credit and Investment Corporation of India) is an Indian multinational banking

and financial services company headquartered in Mumbai, Maharashtra with its registered

office in Vadodara, Gujarat. As of 2018, ICICI Bank is the second largest bank in India in

terms of assets and market capitalization. It offers a wide range of banking products and

financial services for corporate and retail customers through a variety of delivery channels

and specialized subsidiaries in the areas of investment banking, life, non-life insurance,

venture capital and asset management. The bank currently has a network of 4867 branches

and 14367 ATMs across India and has a presence in 17 countries including India. ICICI

Bank is one of the Big Four banks of India. The bank has subsidiaries in the United

Kingdom and Canada; branches in United States, Singapore, Bahrain, Hong Kong, Sri

Lanka, Qatar, Oman, Dubai International Finance Centre, China and South Africa; and

representative offices in United Arab Emirates, Bangladesh, Malaysia and Indonesia. The

company's UK subsidiary has also established branches in Belgium and Germany.

Review of literature

(2016–17) SBI is one of the largest employers in the country with 209,567 employees as

on 31 March 2017, out of which there were 23% female employees and 3,179 (1.5%)

employees with disabilities. On the same date, SBI had 37,875 Scheduled Castes (18%),

17,069 Scheduled Tribes (8.1%) and 39,709 Other Backward Classes (18.9%) employees.

The percentage of Officers, Associates and Sub-staff was 38.6%, 44.3% and 16.9%

respectively on the same date. Around 13,000 employees have joined the Bank in FY

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2016–17. Each employee contributed a net profit of ₹511,000 (US$7,100) during FY

2016–17.

(2012–13) SBI has over 24000 branches in India. In the financial year 2012–13, its

revenue was ₹2.005 trillion (US$28 billion), out of which domestic operations contributed

to 95.35% of revenue. Similarly, domestic operations contributed to 88.37% of total

profits for the same financial year.

Under the Pradhan Mantri Jan Dhan Yojana of financial inclusion launched by

Government in August 2014, SBI held 11,300 camps and opened over 3 million accounts

by September, which included 2.1 million accounts in rural areas and 1.57 million

accounts in urban areas.

(2014–15), the bank had 191 overseas offices spread over 36 countries having the largest

presence in foreign markets among Indian banks.[14] SBI operates several foreign

subsidiaries or affiliates. In 1989, SBI established an offshore bank, State Bank of India

International (Mauritius) Ltd. This then amalgamated with The Indian Ocean International

Bank (which had been doing retail banking in Mauritius since 1979) to form SBI

(Mauritius) Ltd. Today, SBI (Mauritius) Ltd has 14 branches – 13 retail branches and 1

global business branch at Ebene in Mauritius.

SBI is one of the largest employers in the country with 209,567 employees as on 31 March

2017, out of which there were 23% female employees and 3,179 (1.5%) employees with

disabilities. On the same date, SBI had 37,875 Scheduled Castes (18%), 17,069 Scheduled

Tribes (8.1%) and 39,709 Other Backward Classes (18.9%) employees. The percentage of

Officers, Associates and Sub-staff was 38.6%, 44.3% and 16.9% respectively on the same

date. Around 13,000 employees have joined the Bank in FY 2016–17. Each employee

contributed a net profit of ₹511,000 (US$7,100) during FY 2016–17.

ICICI Bank was established by the Industrial Credit and Investment Corporation of India

(ICICI), an Indian financial institution, as a wholly owned subsidiary in 1994. The parent

company was formed in 1955 as a joint-venture of the World Bank, India's public-sector

banks and public-sector insurance companies to provide project financing to Indian

industry.[9][10] The bank was founded as the Industrial Credit and Investment Corporation

of India Bank, before it changed its name to the abbreviated ICICI Bank. The parent

company was later merged with the bank.ICICI Bank launched internet banking

operations in 1998.

ICICI's shareholding in ICICI Bank was reduced to 46 percent, through a public offering

of shares in India in 1998, followed by an equity offering in the form of American

Depositary Receipts on the NYSE in 2000. ICICI Bank acquired the Bank of Madura

Limited in an all-stock deal in 2001 and sold additional stakes to institutional investors

during 2001-02.

In the 1990s, ICICI transformed its business from a development financial institution

offering only project finance to a diversified financial services group, offering a wide

variety of products and services, both directly and through a number of subsidiaries and

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affiliates like ICICI Bank. In 1999, ICICI become the first Indian company and the first

bank or financial institution from non-Japan Asia to be listed on the NYSE.

In October 2001, the Boards of Directors of ICICI and ICICI Bank approved the merger of

ICICI and two of its wholly owned retail finance subsidiaries, ICICI Personal Financial

Services Limited and ICICI Capital Services Limited, with ICICI Bank. The merger was

approved by shareholders of ICICI and ICICI Bank in January 2002, by the High Court of

Gujarat at Ahmedabad in March 2002 and by the High Court of Judicature at Mumbai and

the Reserve Bank of India in April 2002.

In 2008, following the 2008 financial crisis, customers rushed to ICICI ATMs and

branches in some locations due to rumours of an adverse financial position of ICICI Bank.

The Reserve Bank of India issued a clarification on the financial strength of ICICI Bank to

dispel the rumours.

Objective of Study

In India so many financial institution are working for the rural and urban development.

Some are in very good Condition in terms of responsibility and assistant towards the social

awareness, poverty reduction, agricultural activities, land development and livelihood for

the rural development. The present study has the following objectives…

To study the financial analysis of public and private sector bank.

To measure the satisfaction of customer of public and private sector bank.

Hypothesis

The following hypotheses which are linked to the objectives of the study are

proposed…………..

H0 There is no significance difference between the satisfaction level of customer of public

(SBI) and private sector (ICICI) banks in India.

Research Methodology

For micro level study we have taken the sample size of 100 respondent of banking

customer in urban and rural areas regarding the satisfaction of banking facilities from SBI

and ICICI banks in India. The present study is based on both primary and secondary data.

Primary data has been collected through well designed questionnaires and open Ended

interviews with the banking customer SBI and ICICI banks in rural and urban areas.

Secondary data has been collected from annual reports, magazines, Newspaper, internet,

review, and records of RBI, statistical department of India. Sample area of the research

will cover the data related areas of India. Analysis of data will be made by using various

required statistical tools, Tables, ANOVA test etc. have been used to analyse, present, and

interpret the problem for drawing the result of the study. Public survey regarding their

Opinion about the functioning of financial services and customer satisfaction of SBI and

ICICI banks in India is also being done as a part of study.

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Analysis of the Study

Following analysis is done on the basis of data for the 100 banking customer of SBI and

ICICI banks of rural and urban areas in India regarding the awareness of financial analysis

from last 5 years (2013-14 to 2017-18) for knowing the condition of operating expenses,

NPA, EPS, Profit after tax, and distribution of deposits in SBI and ICICI banks in India.

Table No. 1 Operating expenses wise distribution of ICICI & SBI Bank (Billion)

year ICICI SBI

operating expenses % operating expenses %

2013-14 103.09 15.87 357.25 16.09

2014-15 114.96 17.70 380.53 17.14

2015-16 126.83 19.53 417.82 18.82

2016-17 147.55 22.72 464.72 20.94

2017-18 157.04 24.18 599.43 27.00

Total 649.47 100.00 2219.75 100.00

Sources: RBI report 2018

From the above table it is being identified that operating expenses are increasing regularly

from 2013-14 to 2017-18 in ICICI bank and SBI bank. After analysis it was also observed

that in year 2017-18 ICICI bank operating expenses is 157.04 (24.18%) million dollar

while it was 599.43 (27%), it indicate that SBI operating expenses are more in comparison

of ICICI bank, means SBI is spending more in the operation of banking system in India.

0

100

200

300

400

500

600

2013-2014 2014-2015 2015-2016 2016-2017 2017-2018

357.25380.53

417.82

464.72

599.43

ICICI operating expenses

SBI operating expenses

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Table No. 2 Deposits wise distribution of ICICI & SBI Bank (Billion)

year ICICI SBI

Deposits % Deposits %

2013-14 292614 15.42 1394409 14.75

2014-15 331914 17.49 1576793 16.68

2015-16 361563 19.05 1730722 18.31

2016-17 421426 22.21 2044751 21.63

2017-18 490039 25.82 2706344 28.63

Total 1897556 100.00 9453019 100.00

Sources: RBI report 2018

From the table no. 2 it is being identified that deposits are increasing regularly from 2013-

14 to 2017-18 in ICICI bank and SBI bank. After analysis it was observed that in year

2017-18 ICICI bank deposits are 490039 (25.82%) billion dollar while it is 2706344

(28.63%), and it is less only 2014-15 year. it indicate that SBI deposits are more in

comparison of ICICI bank, it means that SBI banks are providing more investment options

to their customer regarding the uplifttment of earning for the improvement of banking

system.

Table No. 3 Profit after tax wise distribution of ICICI & SBI Bank (Billion)

year ICICI SBI

Profit after tax % Profit after tax %

2013-14 83.25 17.05 108.91 28.75

2014-15 98.1 20.09 131.02 34.59

2015-16 111.75 22.88 99.51 26.27

2016-17 97.26 19.92 104.84 27.68

2017-18 98.01 20.07 -65.47 -17.28

Total 488.37 100.00 378.81 100.00

Sources: RBI report 2018

From the above table no. 3 it is being observed that profit after tax are increasing

regularly from 2013-14 to 2015-16 and maximum in the F.Y. 2015-16 (22.85 %) in ICICI

bank and SBI bank it was increased maximum in the financial year 2014-15 (34.59 %) .

After analysis it was noticed that in year 2013-14 it is minimum 17.05% in ICICI bank

while it was also minimum & negative in f.y. 2017-18 (-17.28 %) which is -65.47 million

dollar. From the above discussion it was cleared that SBI profit after tax are

comparatively more than ICICI bank, means SBI has more capital formation and

investment plan for the upliftment of PSU (public sector undertaking) but it was negative

in financial year 2017-18, still it was progressing and provide more economic and

employment opportunity for their internal structure.

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Table No. 4 EPS wise distribution of ICICI & SBI Bank (Billion)

year ICICI SBI

EPS % EPS %

2013-14 156.76 81.21 13.13 17.12

2014-15 17.55 9.09 15.45 20.15

2015-16 12.96 6.71 17.56 22.90

2016-17 13.43 6.96 15.23 19.86

2017-18 -7.67 -3.97 15.31 19.97

Total 193.03 100.00 76.68 100.00

Sources: RBI report 2018

From the table no. 4 it is being identified that EPS (earning per share) are increasing

regularly from 2013-14 to 2015-16 in SBI bank and later on it was decreased while other

hand it was decreasing regularly from 2013-14 to 2017-18 in ICICI banks. After analysis it

was also observed that in year 2017-18 EPS is negative -7.67 billion (-3.97%) in ICICI

bank while it was 15.31 (19.97%) billion in SBI banks, After financial analysis it can be

said that earning capacity of the SBI bank is more rigid and competent than the ICICI

bank.

83.25

98.1

111.75

97.26 98.01

108.91

131.02

99.51104.84

-65.47

0

50

100

150

200

250

2013-2014 2014-2015 2015-2016 2016-2017 2017-2018

SBI Profit after tax

ICICI Profit after tax

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Table No. 5 Nonperforming assets wise distribution of ICICI & SBI Bank (Billion)

year ICICI SBI

NPA% NPA%

2013-2014 1.2 2.57

2014-2015 1.4 2.12

2015-2016 2.67 3.81

2016-2017 4.89 3.71

2017-2018 4.77 5.73

Sources: RBI report 2018

From the above table no. 5 it was observed that nonperforming assets are increasing

regularly from 2013-14 to 2017-18 in ICICI bank and SBI bank that is the indication of

failure of banking system in India . After analysis it was also observed that in year 2017-

18 it was more in SBI bank 5.73 %, while it was less in ICICI bank 4.77%. it indicate that

SBI NPAs are more in comparison of ICICI bank, means SBI is providing more credit

facility in the operation banking system and that is the reason for the creation of more

NPA in this organized sector.

Table No. 6 Satisfaction wise classification of customer by the working of ICICI Bank

Particular Frequency Percent Valid Percent Cumulative

Percent

Valid

Agree 84 84.0 84.0 84.0

Strongly agree 2 2.0 2.0 86.0

Disagree 14 14.0 14.0 100.0

Total 100 100.0 100.0

Source: Field survey

1.2 1.42.67

4.89 4.772.57 2.12

3.81

3.715.73

0

2

4

6

8

10

12

2013-2014 2014-2015 2015-2016 2016-2017 2017-2018

Axi

s Ti

tle

Chart Title

SBI NPA%

ICICI NPA%

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It is being identified from the above table and most of the respondents are agree (84%)

who are getting satisfaction by the working of ICICI banks for their socio-economic

development in rural and urban areas of India by the different types of developing

activities.

Table No. 7 Satisfaction wise classification of customer by the working of SBI Bank

Particular Frequency Percent Valid Percent Cumulative

Percent

Valid

Agree 82 82.0 82.0 82.0

Strongly agree 4 4.0 4.0 86.0

Disagree 14 14.0 14.0 100.0

Total 100 100.0 100.0

Source: Field survey

It is being identified from the above table and most of the respondents are agree (82%)

who are getting satisfaction by the working of SBI for the socio-economic development in

rural and urban areas of India by the different types of developing activities.

In order to measure the satisfaction level of SHG's with regards to microfinance

services provided by the banks, the SERVQUAL based multi-dimensional survey instrument

developed by Awan et al. (2011) was used. The validity and reliability of the instrument were

checked for the sample using factor analysis and Cronbach's Alpha respectively. The results

of this analysis were summarized below.

Factor analysis using Varimax rotation was performed on the 28 items adapted from

Awan et al. (2011) to validate the factor structure. The results of the factor analysis

confirmed prior research. The items load on to the same factors as reported by Awan et al.

(2011). Also, none of the items were deleted in the factor analysis.

Table No. 8 Results of Factor Analysis

Factor Eigen Value % of Variance Cumulative %

Competency 5.938 22.84 22.84

Responsiveness 5.331 20.503 43.343

Competitive Services 4.15 15.962 59.305

Safe Transactions 3.947 15.182 74.487

Knowledge 2.118 8.145 82.632

Table 8, summarized the results of the factor analysis. All the factors had Eigen

values greater than 1, which was in accordance with the criteria mentioned by Field (2009)

for factors to be significant. The cumulative variance explained by this factor solution was

82.632 %. The first factor was called competency (Eigen Value = 5.938). The second factor

was responsiveness (Eigen value = 5.331). The third factor was competitive services (Eigen

value = 4.150). The fourth factor was safe transactions (Eigen value = 3.947). The last factor

was knowledge (Eigen value = 2.118)

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Table No. 9 Factor Loadings and Reliability

Items Factors

Competency Responsiveness Competitive

Services

Safe

Transactions

Knowledge

Never being

too busy to

respond to your

requests

0.852

Following

through on

their promises

0.895

Properly

handling any

problems that

arise

0.901

Understanding

your specific

needs for

financial

services

0.864

Friendliness 0.884

Willingness to

help

0.749

Having a

concerned and

caring attitude

0.912

Letting you

know when

things will get

done

0.825

Ability to

answer your

questions

0.877

Provided easy

access to

needed

information

0.825

Maintaining

clean and

pleasant branch

office facilities

0.877

Being capable 0.948

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and competent

Giving you

their undivided

attention

0.782

Being

consistently

courteous

0.948

Providing easy

to read and

understandable

bank

statements

0.93

Providing

error-free bank

statements

0.873

Offering

convenient

banking hours

0.803

Providing

convenient

branch

locations

0.789

Keeping your

transactions

confidential

0.93

Doing things

right the first

time

0.94

Paying

competitive

interest rates

on deposits

0.963

Charging

reasonable

service fees

0.853

Charging

competitive

interest on

loans

0.954

Knowledge of

bank products

and services

0.788

Providing you 0.892

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with a good

value in

banking

products and

services

Providing

prompt

customer

service

0.641

Reliability

(Cronbach’s

Alpha)

0.946 0.946 0.955 0.921 0.789

(Source: Field survey)

From table 9, it was found that all the items in the 5 factors had significant factor

loadings. Since the sample size of the present study was 100, factor loadings above the

threshold of 0.30 were considered significant, Criteria mentioned by Gupta and Gupta (2011).

From table 5.69 it was also evident that all items had factor loadings greater than 0.30.

The reliability of the factors was checked using Cronbach's Alpha. A cut off value of 0.7 was

recommended in order for a factor to be considered significant (Field, 2009). All the 5 factors

had Cronbach's Alpha greater than 0.7, which means that measures were reliable.

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Table No. 10 Measure of Satisfaction level through the Multivariate test

Multivariate Tests

Effect Value F Hypothesis df Error df Sig.

Intercept

Pillai's Trace .997 27094.877 5.000 393.000 .000

Wilks' Lambda .003 27094.877 5.000 393.000 .000

Hotelling's Trace 344.719 27094.877 5.000 393.000 .000

Roy's Largest Root 344.719 27094.877 5.000 393.000 .000

Opinion regarding

the Satisfaction level

of customer

Pillai's Trace .043 1.720 10.000 788.000 .072

Wilks' Lambda .957 1.729 10.000 786.000 .070

Hotelling's Trace .044 1.737 10.000 784.000 .069

Roy's Largest Root .040 3.187 5.000 394.000 .008

(Source: Field survey)

To test this hypothesis, MANOVA i.e. multivariate analysis of variance test was performed.

MANOVA was used since the effect of the independent variable as a “opinion regarding the

satisfaction level of customer" were to be studied on the 5 dimensions satisfaction, which

were used as a dependent variables. The results of MANOVA were summarized in the table

10.

In the effect column, for the independent variable "opinion regarding the satisfaction level"

various multivariate test statistics were reported. These test statistics should have a p-value of

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less than 0.05 in order for any significant difference to exists between customer of ICICI and

SBI banks with regards to satisfaction.

The first multivariate test statistics i.e.Pillai’s Tarce was 0.043 with F= 1.720, p=0.072.

Secondly, Wilk’s Lambda was 0.957, p= 0.070, Hotelling’s Trace = 0.044, p=.069.

But, Roy’s Largest Root (0.040) was significant with p=.008. However, it was reported that

Roy Largest root was not robust, as it was very sensitive to even slight violations of

assumptions (Field, 2009).

Therefore, considering the values of Pillai's Trace, Wilk's Lambda and Hotelling's Trace, it

could be concluded that there was no significant difference in satisfaction level of banking

customer of ICICI and SBI banks in India. Hence, the null hypothesis stands accepted.

Conclusion

There is no doubt regarding the financial assistance and guidance of ICICI and SBI banks

that it is providing the dynamic pace for the socio-economic development in rural and

urban areas of India. SBI NPAs are more in comparison of ICICI bank, means SBI is

providing more credit facility in the operation banking system and that is the reason for the

creation of more NPA in this organized sector. , After financial analysis it can be said that

earning capacity of the SBI bank is more rigid and competent than the ICICI bank. From

the above discussion it was cleared that SBI profit after tax are comparatively more than

ICICI bank, means SBI has more capital formation and investment plan for the upliftment

of PSU (public sector undertaking) but it was negative in financial year 2017-18, still it

was progressing and provide more economic and employment opportunity for their

internal structure. SBI banks are providing more investment options to their customer

regarding the uplifttment of earning for the improvement of banking system. SBI

operating expenses are more in comparison of ICICI bank, means SBI is spending more in

the operation of banking system in India. ICICI banks are providing more satisfaction to

the customer regarding the banking services and other financial benefits within the

prescribed time. SBI is also providing the same satisfaction to their customer yet there is a

little bit difference between these to financial institutions.

References

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Hill Education. p.8-9.

4. "Annual Report 2017-18 of State Bank of India

5. Fortune 'Global 500' 2016: State Bank of India". CNN. Retrieved 10 October 2016.

pp2-3

6. The Economic Times. 11 September 2014. Retrieved 30 September 2014, pp9-10

7. "SBI Annual Report 2014-15". State Bank of India. Retrieved 14 January 2016.

8. Bank to Grow with. SBI Mauritius. Retrieved on 26 December 2018, pp5-6

9. "State Bank of India". BSE india.com. Retrieved 11 October 2013.pp18-19

10. "Brand Trust Report 2014". Archived from the original on 24 October 2014, pp11-13

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