SBI sparkles despite of growing NPAs
DSIJ Intelligence / 12 Aug 2016
State Bank of India (SBI) has declared its Q1FY17 results on Friday. The bank’s interest earned has decreased by 1.69 per cent to Rs 55915 crore in Q1FY17 as compared to previous quarter.
State Bank of India (SBI) has declared its Q1FY17 results on Friday. The bank’s interest earned has decreased by 1.69 per cent to Rs 55915 crore in Q1FY17 as compared to previous quarter. Its operating profit too has declined by 17.1 per cent to Rs 15549 crore in Q1FY17 on a quarterly basis. SBI’s net profit is down by 16.97 per cent to Rs 1046 crore in Q1FY17 as compared to previous quarter.
On the yearly front, SBI’s interest earned has increased by 4.04 per cent to Rs 55915 crore in Q1FY17 as compared to same period in previous fiscal. Its operating profit too has increased by 17.97 per cent to Rs 15549 crore in Q1FY17 on a yearly basis. SBI’s net profit is down by almost four times to Rs 1046 crore in Q1FY17 as compared to same period in previous fiscal.
SBI’s asset quality has slipped in Q1FY17. The bank’s gross NPA stands at 6.94 per cent to Rs 101541 crore as of Q1FY17 against 6.5 per cent, i.e. Rs 98173 crore as of Q4FY16. Its net NPA stands at 4.05 per cent to Rs 57421 crore as of Q1FY17; while at 3.81 per cent to Rs 55807 crore as of Q4FY16.
The share price of SBI has increased by 9.14 per cent on bourses after declaration of results; and is trading at Rs 243.15 on an intraday basis.
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