InvestorQ : How do you see the performance of SBI in the Jun-20 quarter?
swati Bakhda made post

How do you see the performance of SBI in the Jun-20 quarter?

Answer
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Dia Deshpande answered.
3 months ago


SBI posted 36.8% rise in PBT at Rs.5560 crore for the Jun-20 quarter on the back of strong growth in net interest income or NII. Its net profit came in at Rs.4189 crore but that include a one-time gain of Rs.1540 crore from the sale of its stake in SBI Life during the quarter. Net profits were up 17% despite being a tough quarter. Operating profits were up by 36%.

SBI reported NII at Rs.26,642 crore, clocking a 16.1% growth. What is more interest is that the net interesting margins or NIMs improved from 3.01% to 3.24%. Its provisions for NPAs in the quarter, including COVID provisions added up to Rs.12,501 crore. The provision Coverage Ratio stands at a healthy 86.32%. Loans under moratorium were just 9.5%.

Gross non-performing assets or GNPAs came down in absolute terms to Rs.129,000 crore from Rs.149,000 crore. The GNPA ratio improved from 6.15% to 5.44%, which is a huge shift for the better. Even the net NPA ratio improved by 37 bps on a YOY basis to 1.86%! SBI reported healthy growth in loans and deposits in double digits.