State Bank of India’s loan and deposit growth both came in at 16% year-on-year, with a stable CASA ratio of 45.5%, reports Nomura Equity Research in its Quick Note
SBI (State Bank of India) reported 3QFY13 net profit of Rs34 billion, marginally lower than Nomura’s estimate of Rs34.4 billion, largely on account of higher-than-expected provisions and lower NIMs (net interest margins) offset by strong trading gains.
Loan and deposit growth both came in at 16% year-on-year, with a stable CASA (current account, savings account) ratio of 45.5%. Delinquencies came in higher than estimated at Rs81.8 billion with LLPs (loan loss provisions) of 1.17%, taking the GNPL (gross non-performing loans) ratio to 5.3%. Consequently, SBI’s asset quality pain continues in the current financial year, said Nomura Equity Research in its Quick Note.
The key result highlights and analysts’ findings, according to the Nomura Quick Note include:
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