SBI spurts after good Q2 performance

State Bank of India jumped 7.69% to Rs 282.9 after net profit rose 218.75% to Rs 3011.73 crore on a 9.37% increase in total income to Rs 72,850.78 crore in Q2 September 2019 over Q2 September 2018.

The result was announced during market hours today, 25 October 2019.

The bank's gross non-performing assets (NPAs) stood at Rs 1,61,636.05 crore as on 30 September 2019 as against Rs 1,68,493.94 crore as on 30 June 2019 and Rs 2,05,864.12 crore as on 30 September 2018.

The ratio of gross NPAs to gross advances stood at 7.19% as on 30 September 2019 as against 7.53% as on 30 June 2019 and 9.95% as on 30 September 2018.

The ratio of net NPAs to net advances stood at 2.79% as on 30 September 2019 as against 3.07% as on 30 June 2019 and 4.84% as on 30 September 2018.

The bank's provisions and contingencies rose 8.66% to Rs 13138.93 crore in Q2 September 2019 over Q2 September 2018. Of this, provisions for NPAs rose 8.41% to Rs 11040.72 crore in Q2 September 2019 over Q2 September 2018.

Provision coverage ratio was 81.23% in Q2 September 2019 as against 70.74% in Q2 September 2018.

The bank's capital adequacy ratio (CAR) improved to 13.59% as on 30 September 2019, an increase of 98 bps over Q2 September 2018 and 70 bps over Q1 June 2019.

The banks' net interest income (NII) increased by 17.67% to Rs. 24,600 crore in Q2 September 2019 from Rs. 20,906 crore in Q2 September 2018.

Domestic net interest margin (NIM) improved to 3.22% in Q2 September 2019, registering an increase of 42 bps as against Q2 September 2018 and 21 bps over Q1 June 2019.

The banks' gross slippages fell 17.91% YoY and 45.69% QoQ to Rs 8,805 crore in Q2 September 2019.

Meanwhile, the S&P BSE Sensex was up 124 points or 0.32% to 39144.52.

On the BSE, 45.07 lakh shares were traded in the counter so far compared with average daily volumes of 16.76 lakh shares in the past two weeks. The stock hit a high of Rs 284 and a low of Rs 263.6 so far during the day.

The stock hit a 52-week high of Rs 373.7 on 18 Jul 2019. The stock hit a 52-week low of Rs 244.35 on 09 Oct 2019.

The State Bank of India is an Indian multinational, public sector bank. Government of India holds 57.88% stake in State Bank of India (as on 30 September 2019).

Powered by Capital Market - Live News