COUNTRY'S LARGEST LENDER State Bank of India reported a~75% y-o-yearnings increase, led by operating profits doubling year on year. Loan growth was solid at 20% y-oy, net interest margin expanded ~30bps q-o-q, negligible slippages, gross non-performing loans (NPL) declined 40bps q-o-q and net NPLs fell 20bps q-o-q. Return on equity (ROE) touched 18%. Valuations are still not expensive, despite this strong outperformance. We maintain a rating of BUY.
SBI reported -75% y-o-y earnings growth, led by operating profits doublingy-o-y. Revenues grew 12% y-o-y with NII growth at 13%y-o-y, whereas non-interest income (NII) grew 8% y-o-y. NIM expanded 30bps q-o-q to 3.3%. Loans grew 20%y-o-y, which is at a decade high. Asset quality metrics showed further improvement, with the gross NPL ratio declining 40bps q-o-q to 3.5% and net NPL ratio declining 20bps qo-q to 0.8%. Provision coverage ratio (PCR) stood at 78%. RoE stood at 18% and RoA at 1% of loans.
هذه القصة مأخوذة من طبعة November 08, 2022 من Financial Express Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة November 08, 2022 من Financial Express Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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