Personal Finance & Money Asked on August 27, 2021
The annual report for SBI may be found here. The snapshots of the balance sheet and income statements from this report are:
**
Now, using the return on equity formula we have:
ROE = Net Income/Total Equity Capital = 144881106/8924612 = 1623% !!
The company reports 7.74% ROE. How to arrive at this number?
Edit: Even if I add the Reserves and Surplus number to the equity, I don’t get the desired 7.74%.
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