SBI Q3 earnings: Here's what to keep track of

Ivan Schwartz
February 10, 2018

The board of the bank on Friday chose to consider further preferential allotment of shares to the government amounting to Rs 5,132 crore.

"Not only for SBI, for most other banks also at least the next two quarters will remain challenging because of the provisions for the bankruptcy cases", he said.

Profit in year-ago quarter stood at Rs 252.7 crore. The bank in a statement said its net loss is "due to lower trading income due to hardening of bond yields, higher corporate slippages leading to higher loan loss provisions and significant investment depreciation hit".

Provisions for bad loans shot up 70.8 percent sequentially and 92.7 percent year-on-year to Rs 3,155.28 crore for quarter ended December 2017.

The bank, which has a Rs 78,000-crore exposure to the 40 accounts being resolved through the insolvency process, does not see much impact of such accounts on its bottomline as the provisions for these are already at 60 per cent levels.

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SBI's net interest income - the difference between interest earned and interest expended - grew by 5.17% to Rs 18,687.52 crore during the October-December 2017 quarter.

Kumar exuded confidence that up to 3 of these accounts will be resolved before the close of the current fiscal, while the rest in the first list of 12 will happen in the June quarter.

The Rs 20,000 crore infusion will reduce the government stake by up to 4 percentage points, he said.

Loan growth: After a period of sluggishness, system loan growth has started reviving and touched the 10% mark in December. The bank had earlier guided for 5-6% loan growth in the current fiscal. Gross non-performing assets for the quarter were higher at 11.31 percent compared to 11.16 percent in previous quarter while net NPAs were lower at 4.97 percent against 5.05 percent on sequential basis.

Stock of the bank closed 1.68 per cent down at Rs 296.40 apiece on BSE today.

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