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SBI Q2 net up at Rs 3100 cr, asset quality stable

SBI’s asset quality, a factor which most analysts were looking out for, was stable with Q2 gross non-performing assets at 4.89 percent versus 4.9 percent quarter-on-quarter (Q-o-Q). Net NPA was at 2.73 percent versus 2.66 percent sequentially.

The News International Team

Net profit of  State Bank of India jumped to Rs 3100 crore in the quarter ended September 30. During the quarter, its net interest income (NIIs) stood at Rs 13274 crore. This is almost in-line with CNBC-TV18 poll.

According to estimates, the country’s largest lender was expected to post Q2 net profit growth of 30 percent at Rs 3096 crore from Rs 2375 crore in the year-ago period. Analysts expected NIMs to grow 11 percent to Rs 13588 crore versus Rs 12251 crore year-on-year.

SBI’s asset quality, a factor which most analysts were looking out for, was stable with Q2 gross non-performing assets at 4.89 percent versus 4.9 percent quarter-on-quarter (Q-o-Q). Net NPA was at 2.73 percent versus 2.66 percent sequentially.

More to come

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