International Journal of Trend in Research and Development, Volume 4(5), ISSN: 2394-9333

[Link]
Analysis of Income Sensitivity in Indian Banks – A
Study of Select Banks
1
Dr. D. Veena and 2Prof. G.V. Bhavani Prasad,
1
Faculty of KU College of Engineering & Technology, Kakatiya University, Warangal, India
2
UGC Emeritus Professor, University College of Commerce and Business Management, Kakatiya University,
Warangal, India

Abstract: Net Income is the main source of every organization. Banks (PSBs), 17 Private Banks (PBs), and 19 Foreign Banks
Banks take deposits and pay interest on these accounts. They (FBs) for period (1999-00 to 2008-09). The study reveals that
lend these funds on to borrowers and receive interest on the profitability, capital adequacy, and assets quality of
loans. Their profits are derived from the spread between the commercial banks in India improved while their liquidity and
rate they pay for funds and the rate they receive from off-balance sheet strength declined. Although financial
borrowers. This ability to pool deposits from many sources performance of commercial banks in India has improved as a
that can be lent to many different borrowers creates the flow of result of various reforms introduced by RBI, yet the FBs are at
funds for the banking system. By managing this flow of funds, the top on various aspects of financial performance such as
banks generate profits, acting as the intermediary of interest profitability, liquidity, capital adequacy, assets quality, and
paid and interest received, and taking on the risks of offering overall financial performance.
credit. This paper aims at understanding the income sensitivity
Gupta and Sikarwar(2013) studied the profitability
of the select banks with the help ofanalysis of Spread,
management of Punjab National Bank and HDFC Bank. A
Burden,Provisions, NPAs, Assets and Net Profit.
comparative study is made by taking the data of eleven years
Keywords: Spread, Burden, Provisions, NPA, Net Profit. i.e. from 2000 to 2011. On the basis of study of profitability
management, based on the parameters like Total Income, Total
I. INTRODUCTION
Expenditure, Net Profits and Operating Expenses, the study
Banking Industry is the main pillar for the country’s economy. concluded very safely that for the last eleven years i.e. from
Indian Banks are playing important role to strengthen the 2000 to 2011 HDFC Bank has performed much better than
country’s economic and monetary policies. Banks Punjab National Bank and all the banks must refer the
take deposits from savers and pay interest on some of these suggestions provided in the study in order to improve their
accounts. They pass these funds on to borrowers and receive efficiency.
interest on the loans. Their profits are derived from the spread
Brindadevi. V(2013)Profitability of private sector banks in
between the rate they pay for funds and the rate they receive
India plays major role in banking sector without profit the
from borrowers. This ability to pool deposits from many
investors cannot invest in this business. A strong financial
sources that can be lent to many different borrowers creates
system promotes investment by financing productive business
the flow of funds for the banking system. By managing this
opportunities, mobilizing savings, efficiently allocating
flow of funds, banks generate profits, acting as the
resources and makes easy the trade of goods and services.
intermediary of interest paid and interest received, and taking
Profitability ratios are employed by the management in order
on the credit risks.
to assess how efficiently they carry on their business
The bank’s profitability influenced by Income Sensitivity. operations and also it is suggested for the entire bank to take
Income Sensitivity indicates primarily the variations in Interest effective steps to improve the operating efficiency of the
Earned, Interest Expended. This in turn impacts Interest business.
Spread. The Burden, income from other sources and other
UrmilaBharti, Surender Singh(2014) depicts that public sector
expenses including provisions will affect Net profit of a bank.
banks need to improve their performance in order to compete
Income Sensitivity is affected by both controllable and
with private and foreign banks groups.
uncontrollable factors. The uncontrollable factors are interest
rates and other rates prescribed by RBI and market rates of MS. Pallavi, Dr. RajaniSaluja (2017) It can be concluded that
interests. Controllable factors are asset portfolio, liability net profit to working fund is better than of operating profit to
portfolio, management of asset quality and managing operating working fund as far as net profit as percentage of total income
expenses. The banks’ ability to stabilize income sensitivity is better than net profit to total deposits.
depends on its efficiency in managing operating expenses,
The primary objective of this paper is to analyze the interest
management of asset and liability portfolio and NPAs. Banks
spread, burden. in order to evaluate the income sensitivity of
need to focus on stabilizing income sensitivity with the help of
the select banks viz., SBI and ICICI. The data is analyzed with
concentrating on controllable [Link] in turn will result
the help of CAGR, R2 and Year to year growth rate.
in stability in profitability. Thus Income sensitivity assumes a
critical role in the management of banks operations. III. SPREAD ANALYSIS
II. LITERATURE SURVEY Spread is the difference between Interest Earned and Interest
Expended. The principal aim of a bank is managing the spread
The following are a few important studies conducted in the
between liabilities and assets. Basically when the interest that a
research area.
bank earns from loans is greater than the interest it must pay
Goel (2012) studied the performance of 62 Scheduled on deposits it generates a positive Interest Spread or Net
Commercial Banks in India, comprising of 26 Public Sector Interest Income.

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 International Journal of Trend in Research and Development, Volume 4(5), ISSN: 2394-9333
[Link]
Table no. 1 shows the Spread, Burden and Profitability of SBI and ICICI Banks for the period 2006-16.
Table 1: Spread Analysis of SBI and ICICI
(Rs. in Crores)
Income/ Bank CAG
2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 R²
Expenses s R
39491.0 48950.3 63788.4 70993.9 81394.3 106521.4 119657.0 136350. 152397.0 163685.3 0.8
Interest SBI 17.11
3 1 3 2 6 5 9 8 7 1 5
ICIC 21995.5 30788.3 31092.5 25706.9 25974.0 44178.1 0.8
Earned 33542.64 40075.59 49091.13 52739.43 10.2
I 9 2 5 3 5 6 3
23436.8 31929.0 42915.2 47322.4 48867.9 87068.6 106803.4 0.8
Interest SBI 63230.37 75325.79 97381.82 18.35
2 8 9 8 6 3 9 4
Expende ICIC 16358.4 23484.2 22725.9 17592.5 16957.1 27702.5 0.5
22808.49 26209.18 30051.52 31515.4 7.56
d I 9 4 3 7 5 9 1
16054.2 17021.2 20873.1 23671.4 49282.1 0.8
SBI 32526.4 43291.08 44331.3 55015.25 56881.82 15.09
1 3 4 4 7 4
Spread
ICIC 16475.5 0.7
5637.1 7304.08 8366.62 8114.36 9016.9 10734.15 13866.41 19039.61 21224.03 15.98
I 7 3
(Source: Annual Reports of SBI and ICICI banks.)
IV. INTEREST EARNED regard to special home loans, which carry lower
interest in the initial years, RBI required banks to
The data from table 1 indicates that the Interest Earning of
provide higher provision of 2% (as against the usual
SBI was Rs.39491.03crores in 2006-07 it showed accretion
rate of 0.4%), as these loans are considered riskier.
and finally reached to Rs.163685.3crores in 2015-16 by
showing 17.11 CAGR and its R²is 0.8546. Interest Expended of ICICI was Rs.16358.49crores in 2006-
07 the expenses increased to Rs.23484.24crores in 2007-08
The Interest Earnings of ICICI was Rs.21995.59crores in
then the expenses of the bank showed a declining trend up to
2006-07. The bank showed increasing trend up to 2008-09
2010-11, because of the decline in Interest on Deposits and
unpredictably there was a sudden drop in the 2009-10
Interest on inter bank borrowings during this period. Later on
continued in 2010-11 also. The drop in Interest income was
the Interest Expended of the bank rose continuously and
because of income from working funds decreased and interest
reached to Rs.31515.4crores in 2015-16 showed a CAGR 7.56
on advances was not increased with the same proportionate to
percent and R2 0.5105.
Advances. After that the Income through earnings showed a
rapid increasing trend and lastly reached to Rs.52739.43crores The ICICI bank showed an unpredictable trend. This indicates
in 2015-16 with10.20 as CAGRand R2 0.8284. The Interest that the bank was unable to implement the rules and provisions
earnings of the ICICI showed a positive CAGR but its degree prescribed by the RBI immediately as SBI does.
of variation is more.
Spread of SBI was Rs.16054.21crores in 2006-07 by showing
Interest Expended of SBI was Rs.23436.82crores in 2006-07 an increasing trend it reached to Rs.163685.31crores in 2015-
it showed the same increasing trend and reached to 16 with a CAGR 15.09, R2 0.8461.
Rs.106803.49crores in 2015-16 with a CAGR 18.35 percent
Spread of ICICI was Rs.5637.1crores in 2006-07 with a
and R2 0.8429.
gradual increasing trend it reached to Rs.21224.03 by the end
 RBI had prescribed an interest rate of 3.50% on of 2015-16 with a CAGR 15.98, R2 0.7305. Compare to ICICI,
savings deposits and upto March 31, 2010 banks were the SBI banks CAGR of Spread is less because of increase in
required to pay this interest on the minimum interest expenses is more the interest income. But the R2 for
outstanding balance in a savings deposit account Interest Income, Expenses and Spread is more with SBI, this
between the tenth day and the end of the month. indicates the best fit trend followed by SBI.
 Effective April 1, 2010, RBI changed the In order to analyze the trend in detail the year to year growth
methodology of computation of the interest payable rates of the Interest Income, Interest Expenses and Spread of
and banks were required to pay interest on the daily the both the banks were calculated. The analysis of year to
average balance maintained in a savings deposit year growth rates of Income earned, expended and Spread of
account. The change in methodology resulted in SBI, ICICI is presented in Table no.2
increase in cost of savings account deposits for banks.
 RBI has increased the interest rate on savings account
deposits to 4.00% with effect from May 3, 2011. In
Table no. 2: Analysis of Year to Year Growth rates of Interest Earned, Interest Expended and Spread
Income Earned Banks 2006-07 2007-08 2008-09 2009-10 2010- 2011- 2012- 2013- 2014- 2015-
/ Expended 11 12 13 14 15 16
Interest SBI -- 24 30.3 11.3 14.6 30.9 12.3 14 11.8 7.4
Earned ICICI -- 39.97 9.88 -17.32 1 29.1 19.5 10.2 11.1 7.43
Interest SBI -- 36.2 34.4 10.3 3.3 29.4 19.1 15.6 11.8 9.7
Expended ICICI -- 43.56 -3 -23 -4 34.5 14.9 5.7 8.5 4.9
Spread SBI -- 6 22.6 13.4 37.4 33.1 2.4 11.2 11.6 3.4
ICICI -- 29.57 52.74 -3.01 11.11 19.04 29.18 18.81 15.56 11.47

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 International Journal of Trend in Research and Development, Volume 4(5), ISSN: 2394-9333
[Link]
The year to year growth rate analysis of Interest earned by SBI The comparative analysis between SBI and ICICI bank
showed fluctuating trend starting with 24 percent for the year showed that both the banks showed higher income sensitivity
2007-08 and ending with 7.4 percent for the year 2015-16. growth interms of interest earned and interest expended.
The bank showed highest growth rate 2008-09 and 2011-12 However while the growth rate of interest earned for ICICI
with a year to year growth rate of 30 [Link] all other years bank showed the lowest in 2009-10, the growth rate of SBI
the growth rate was less than 15 percent. The growth rate showed a similar trend. The growth rate of interest expended
showed a declining trend from the year 2012-13 was a lowest for ICICI in the year 2009-10, the growth rate of
interest expended of the SBI showed in the year 2010-11. This
The year to year growth rate analysis of Interest Earned by
indicates that there is similarity in the performance of both the
ICICI showed lot of variations in its trend starting form 39.97
banks as for as interest earned is concerned. On the other hand
percent in 2007-08 and decreased to 9.88 percent in 2008-09
there is dissimilarity with reference to interest expended.
then immediately in the year 2010-11 it was -17.32 percent.
After that in the 2011-12 it showed a growth rate only 1 The year to year growth rate analysis of Spread of SBI was 6
percent then surprisingly the interest earned showed a growth percent in 2007-08, it was increased to 22.6 in 2008-09 and
rate of 29.1 percent in the year 2012-13. From the year 2013- immediately it decreased to 13.4 in 2009-10 with the effect of
14 onwards the interest earned started decreasing and finally interest expenses. In the year 2010-11 it was 37.11 and after
reached to 7.43 percent in the year 2015-16. that by showing a declining trend it reached to 3.4 by the end
of the year 2015-16.
The year to year growth rate analysis of Interest expended of
SBI showed instability in its trend starting from 36.2 in 2007- The year to year growth rate analysis of Spread of ICICI bank
08 it reached its least 3.3 in 2010-11 than immediately raised was 29.57 in 2007-08 raised to 52.74 in 2008-09 because of
to 29.4 in 2011-12 and finally by showing a decreasing trend it negative growth in its expenses. Then it became negative in
stood at 9.7 by the year ending 2015-16. 2009-10 and by showing a fluctuating trend it reached to 11.47
in the end of 2015-16.
The year to year growth rate analysis of Interest expended of
ICICI exhibit a variant trend moving from 43.56 in 2007-08 it Burden Analysis: Burden means the excess of Operating
showed negative trend -3, -23, -4 for the period 2008-09 to Expenses over the Other Income. The positive figures of
2010-11. On a sudden it raised to 34.5 in 2011-12 after that by Burden show that the bank is having more burdens on the other
showing a declining trend it reached to 4.9 by the end of 2015- income. The main aim of calculation of Burden is to identify
16. the volume of burdenon operating income.
Table No 3: shows the trend of Operating Expenses, Operating Income and Calculation of Burden for the period of 2006-16.
Table no. 3 Burden Analysis of SBI and ICICI
(Rs. In Crores)
Income/ Banks 2006- 2007-08 2008- 2009- 2010- 2011- 2012- 2013- 2014- 2015- CAG R²
Expense 07 09 10 11 12 13 14 15 16 R
s
Operati SBI 11823 12608.6 15648. 20318. 23015 26068 29284 35725 38053 41782 15.06 0.8
ng .52 1 7 68 .43 .99 .24 .85 .87 .37 5
expense ICICI 6690. 8154.18 7045.1 5859.8 6617. 7850. 9012. 10308 11495 12683 7.36 0.4
s 56 1 3 25 44 88 .86 .83 .56 6
Other SBI 6765. 8694.93 12690. 14968. 15824 14351 16036 18552 22575 28158 17.17 0.7
Income 26 79 15 .59 .45 .84 .92 .89 .36 8
ICICI 5929. 8810.76 7603.7 7477.6 6647. 7502. 8345. 10427 12176 15323 11.12 0.4
17 3 5 89 76 7 .87 .13 .05 5
Burden SBI 5058. 3913.68 2957.9 5350.5 7190. 11717 13247 17172 15477 13624 11.64 0.6
26 1 3 84 .54 .4 .93 .98 .01 7
ICICI 761.3 -656.58 - - -30.64 347.6 667.1 - -680.3 - -2.14 0.1
9 558.62 1617.8 8 8 119.0 2639. 2
2 1 49
Profit SBI 10995 13107.5 17915. 18320. 25335 31573 31083 32109 39537 43257 16.44 0.8
.95 5 23 91 .56 .54 .9 .24 .27 .81 7
ICICI 4875. 7960.66 8925.2 9732.1 9047. 10386 13199 16594 19719 23863 19.3 0.7
71 4 8 54 .47 .23 .58 .91 .52 0
(Source: Annual Reports of SBI and ICICI banks.)
Operating Expenses of SBI were Rs.11823.52crores in 2006- operating expenses CAGR. Because SBI is the largest and
07 by showing an increasing trend these expenses reached to oldest public sector bank in India with huge customer base all
Rs.41782.37crores in 2015-16 with a CAGR of 15.06 percent over India customarily incurs more operating expenses.
with R2 0.8468. Coming to R2 the SBI showing fit trend than ICICI.
Operating Expenses of ICICI bank were Rs.6690.56crores in Other Income of SBI was Rs.6765.26crores in 2006-07 it
2006-07 by following the same increasing trend it reached to followed an increasing trend up to 2010-11, in the year 2011-
Rs.12683.56croresin 2015-16 with a CAGR of 7.36 percent, 12 the other income was declined because of loss on sale of
R2 0.4634. Investments, Land and Buildings income from all the sources
decreased slightly but immediately in the year 2012-13 the
Both the banks Operating expenses increased but CAGR of
Other income started increasing and reached to
SBI operating expenses were more than the ICICI bank

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 International Journal of Trend in Research and Development, Volume 4(5), ISSN: 2394-9333
[Link]
Rs.28158.36crores in 2015-16 by showing a CAGR 17.17 per Even though the other income of SBI was more than the ICICI
cent, R2 0.7872. bank the SBI is having more Buren because of high operating
expenses it suggests that the bank must control its operating
Other Income of ICICI bank was Rs.5929.17crores in 2006-
expenses in order to control its Burden on Other income.
07n it continuously increased and reached to
Rs.15323.05crores in 2015-16 with CAGR of 11.13 percent, Profit means the excess of Spread on Burden. Profit of SBI
R2 0.4449. Both the banks showed the same increasing trend was Rs.10995.95crores in 2006-07 it followed an increasing
but SBI generating more other income than ICICI bank that trend and reached to Rs.43257.81crores in 2015-16 with a
can be seen through CAGR, R2. CAGR of 16.44 per cent, R2 0.8677.
Burden of SBI was Rs.5058.26crores in 2006-07 by following The Profit of ICICI bank was Rs.4875.71crores in 2006-07
increasing trend it showed highest burden Rs.17172.93crores showed a volatile trend. Profit of ICICI showed a decline in
in 2013-14 after that it came down to Rs.13624.01crores in the year 2010-11 due to an increase in burden. Finally it
2015-16 and CAGR is 11.64 percent, R2 0.6686. The positive reached Rs.23863.52crores in 2015-16 with a CAGR of 19.3
figures of SBI show that the bank is having more burdens on percent, R2 0.7041.
the other income.
The SBI’s Profit is higher than the ICICI bank but the CAGR
Burden of ICICI Bank was Rs.761.39crores in 2006-07 then is higher for ICICI bank. This explains that the high growth
from 2007-08 onward it showed all negative figures the rate of ICICI bank Profit is due to the lower burdens. It should
highest was Rs.-1617.82crores in 2009-10 which means the be noted that the R2 is higher for the SBI even though its
bank is having fewer burden on other income because of less CAGR is less than ICICI bank CAGR this indicates the ICICI
operating expenses. Following the same trend finally it became bank volatility in profit is more which is not advisable.
Rs.-2639.49crores during the period 2015-16.
In order to analyze the trend in detail the growth rates of the
However with the effect of increasing trend of operating Operating Expenses, Other Income and Burden of the both the
expenses the bank showed positive figures from the period banks were calculated. The analysis of year to year growth
2011-13 then with the increasing trend of other income the rates of Operating Expenses, Other Income and Burden of SBI,
Burden also showed negative trend. ICICI is presented in Table no.4.

Table 4: Analysis of Growth rates of Operating Expenses, Other Income and Burden
Income /
Banks 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16
Expenses
Operating SBI -- 6.64 24.11 29.84 13.27 13.27 12.33 21.99 6.52 9.8
expenses ICICI -- 21.87 -13.6 -16.82 12.92 18.63 14.8 14.38 11.51 10.33
Other SBI -- 28.52 45.97 17.94 5.72 -9.31 11.74 15.69 21.68 24.73
Income ICICI -- 48.6 -13.7 -1.66 -11.09 12.85 11.23 24.95 16.76 25.84
SBI -- -22.63 -24.42 80.89 34.4 62.95 13.06 29.63 -9.87 -11.98
Burden
ICICI -- -186.23 -14.92 189.61 -98.11 -1234.72 91.89 -117.84 471.63 287.99
SBI -- 19.2 36.68 2.26 38.29 24.62 -1.55 3.3 23.13 9.41
Profit
ICICI -- 63.27 12.12 9.04 -7.03 14.8 27.08 25.72 18.83 21.01

The year to year growth rate analysis of Operating Expenses The year to year growth rate analysis of Burden by SBI was -
by SBI showed fluctuating trend starting with 6.64 percent for 22.63 percent in 2007-08 and it reached its highest 80.89
the year 2007-08 and ending with 6.52 percent for the year percent in 2009-10 after that it showed decreasing trend and
2015-16. The bank showed highest growth rate of 29.84 finally it become -11.98 by the end of 2015-16.
percent in the year 2009-10.
The year to year growth rate analysis of Burden by ICICI was
The year to year growth rate analysis of Operating Expenses 186.23 percent in 2007-08 it stood its highest -1234.72 percent
by ICICI was 21.87 percent in 2007-08 and then it became in 2011-12 and then it showed down trend finally became
negative for the period 2008-10, with a lot of fluctuations 287.99 in 2015-16.
finally reached to 10.33 percent by the end of the year 2015-
The burden analysis indicates ICICI bank though higher
16.
burden in the initial years gradually stabilized burden by
The year to year growth rate analysis of Other Income by SBI reducing operating expenses and increasing other income. SBI
was 28.52 percent in 2007-08 it showed its highest growth showed a different trend there has been a consistent burden
45.97 percent in 2008-09. Other Income of the SBI showed growth rate which indicates that SBI has been less efficient in
more ups and downs in its growth rates and finally it stood at managing other income and operating expenses. The R2 figures
24.73 per cent in 2015-16. from table no.3 reinforces the argument that SBI stable in
managing the burden and ICICI bank is more dynamic in
The year to year growth rate analysis of Other Income by
managing the burden. This indicates that the ICICI bank has
ICICI was 48.6 percent in 2007-08 and it was negative during
been more responsive in taking corrective measures to ensure
the period 2008-2011. Then it became positive and finally
that the burden doesn’t go beyond control and doesn’t eat into
reached to 25.84 percent by the end of 2015-16.
profits.

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 International Journal of Trend in Research and Development, Volume 4(5), ISSN: 2394-9333
[Link]
The year to year growth rate of the Profit by SBI was 19.2 strengths out of controllable factors such as asset – liability
percent in 2007-08, it increased to 36.68 per cent in 2008-09 portfolio, managing NPAs, generating income from support
and immediately decreased to 2.26 in 2009-10. The growth operations and controlling operating expenses.
rate showed fluctuations without any predictable trend. This is
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