Make earnings with no risk
Automated AI-driven system makes the trades, you earn the money
Join now

State Bank of India to Report Q2 Results


State Bank of India is set to release its second-quarter results on Saturday. Here are the key details:

Net Profit Forecast

State Bank of India is expected to report a 7.9% increase in net profit for the three months ended September 30. Analysts polled by FactSet predict a net profit of 143.13 billion rupees ($1.72 billion) on an unconsolidated basis, compared to 132.65 billion rupees in the same period last year.

What to Watch

Retail Banking

In the first quarter, State Bank of India’s retail banking division experienced a significant increase in profit. The profit from retail banking rose by 82% compared to the previous year, reaching 108.95 billion rupees. Digital banking also played a crucial role, with profits more than doubling to 15.01 billion rupees. Investors will be closely monitoring the pace of profit growth in this segment.

Credit Costs

During the first quarter, provisions for potential loan losses decreased by 35% compared to the previous year, totaling 31.01 billion rupees. This improvement positively impacted the bank’s bottom line. Investors will be paying close attention to the size of credit costs, especially as interest rates have risen in recent months.

Loan Quality

State Bank of India’s gross non-performing assets ratio improved to 2.76% in the first quarter from 3.91% a year earlier on an unconsolidated basis. As advances grew by 15% to 32.35 trillion rupees compared to the previous year, investors are keen on observing the pace of loan growth and its quality, given the steady expansion of the domestic economy.

Bill Holdings Inc. Faces Sales Outlook Setback

Previous article

An Emerging Threat to U.S. Retail Giants

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in News