SBI: Turning over a new leaf, poised to benefit from credit growth

Stress on the asset quality front is at a multi-quarter low; bank ups PCR to 90 per cent

Topics
sbi | credit growth  | Q3 results

Hamsini Karthik 

State Bank of India (SBI) stock has been a market outperformer on the day of its results – a tradition that has been maintained for almost six quarters in a row and didn’t see any deviation post its December quarter (Q3). The bank’s stock price rose by over five per cent even as its numbers were below estimates.

Net profit in Q3 declined by seven per cent year-on-year to Rs 5,196 crore on the back of weak net interest income at Rs 28,820 crore, up 2.3 per cent year-on-year. Yet, if the Street rewarded SBI stock, it perhaps took comfort from easing asset quality ...

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First Published: Thu, February 04 2021. 18:51 IST
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