PSU Bank: The country’s largest government bank SBI has announced the results for the third quarter. Profit declined by 35.5 percent to Rs 9164 crore. Interest margin has also declined.
PSU Bank: The country’s largest government bank SBI has announced the results for the third quarter. Profit stood at Rs 9164 crore with an annual decline of 35.5 percent and a quarterly decline of 36 percent. Net Interest Margin i.e. NIM also declined by 35 basis points on annual basis and 9 basis points on quarterly basis and stood at 3.34 percent. This share closed at Rs 648 (SBI Share Price).
SBI Q3 Results
SBI has released weak results in the third quarter. According to the information available on BSE website, Net Interest Income i.e. NII stood at Rs 39816 crore with an increase of 4.59 percent on annual basis and 0.80 percent on quarterly basis. Operating profit declined by 19.36 percent on annual basis to Rs 20336 crore. Net profit declined by 35.49 percent to Rs 9164 crore. Net interest margin i.e. NIM declined by 35 basis points on annual and quarterly basis to 3.34 percent by 9 basis points.
Loan growth was 14.38 percent, deposit growth was 13.02%.
Talking about loan growth, advances stood at Rs 3584252 crore with an annual increase of 14.38 percent. Deposits stood at Rs 4762221 crore with a jump of 13.02 percent. The quarterly growth of gross advances was 5.07 percent and the growth of deposits was 1.56 percent. The growth of retail personal loans was 15.28 percent and stood at Rs 12.96 lakh crore.
Decline in NPA but adequacy ratio also decreased
Talking about loan growth, advances stood at Rs 3584252 crore with an annual increase of 14.38 percent. Deposits stood at Rs 4762221 crore with a jump of 13.02 percent. The quarterly growth of gross advances was 5.07 percent and the growth of deposits was 1.56 percent. The growth of retail personal loans was 15.28 percent and stood at Rs 12.96 lakh crore.
Decline in NPA but adequacy ratio also decreased
Talking about asset quality, gross NPA fell by 72 basis points to 2.42 percent. Net NPA declined by 13 basis points to 0.64 percent. The provision coverage ratio was 91.49 percent. The slippage ratio increased by 17 basis points to 0.58 percent. Credit cost was 0.21 percent. CAR i.e. Capital Adequacy Ratio fell by 22 basis points to 13.05 percent in which CET-1 ratio was 9.09 percent and Tier-1 ratio was 10.58 percent.
