State Bank Of India

Annual Financial Report

RNS Number : 1436P
State Bank Of India
05 June 2020
 

 

  05.06.2020

  CC/S&B/SA/65

 

The Executive Director                         The Managing Director 

BSE Ltd., Phirojee Jeejeebhoy  National Stock Exchange of India Ltd. 

Towers 25th Floor                                 Exchange Plaza, 5th Floor, Plot No. C/1,

Dalal Street,  G-Block, Bandra-Kurla Complex, 

Mumbai-400001  Bandra (East), Mumbai - 400051

 

Dear Sir/Madam,

 

LISTING REGULATIONS 2015: OUTCOME OF BOARD MEETING

FINANCIAL RESULTS FOR THE QUARTER/YEAR ENDED 31.03.2020

DECLARATION IN RESPECT OF AUDIT REPORTS WITH UNMODIFIED OPINION

 

In terms of Regulation 33(3)(d) and Regulation 30(6) of the SEBI Listing Regulations 2015, we forward herewith a copy of the Audited Standalone and Consolidated Results of the Bank for the quarter/financial year ended 31st March 2020, taken on record by the Central Board of the Bank at its Meeting held on date.

 

2. Please note that the said Central Board Meeting commenced at 10.30 a.m. and results were reviewed and approved by the Central Board at 2.00p.m.

 

3. In an environment of heightened uncertainty caused by COVID-19,the RBI vide its circular No.RBI/2019-20/218DOR.BP.BC.No.64/21.02.067/2019-20 dated 17th April, 2020 has decided that all banks shall not make any further dividend payouts from the profits pertaining to the financial year ended March 31, 2020 until further instructionswith a view that banks conserve capital to retain their capacity to support the economy. Accordingly, the Central Board of the Bank has not declared any final dividend for the year ended 31st March, 2020.This restriction shall be reassessed by the Reserve Bank based on the financial results of banks for the quarter ending September 30, 2020.

 

4. Further, we hereby confirm and declare that the Statutory Auditors of the Bank have issued Audit Report on Audited Financial Results (Standalone and Consolidated) for the quarter and year ended March 31, 2020 with unmodified opinion.

 

Thanking you,

 

Yours faithfully,

 

 

(Sanjay M Abhyankar)

Vice President Compliance- Company Secretary

 

Encl: as above

 

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