State Bank of India registered a net profit of Rs5,583cr during Q3FY20, a yoy increase of 41.18%.
This is also the highest ever quarterly net profit recorded by the Bank.
This is also the highest ever quarterly net profit recorded by the Bank.
The bank's net NPA came in at 2.65% vs. 2.79% and gross NPA stood at 6.94% vs. 7.19% qoq.
During the quarter, the bank exercised the option of lower tax rate taking a one-time hit of Rs1,333cr. Excluding the impact of this one-time additional hit, net profit in Q3FY20 would have been Rs6,916cr vs. Rs3,955cr in Q3FY19.
Profit Before Tax (PBT) for Q3FY20 at Rs10,970cr, an increase of 65.74% yoy and 116.80% qoq
Net Interest Income grew by 22.42% yoy and 12.92% qoq. Domestic Net Interest Margin (NIM) improved to 3.59% in Q3FY20, registering an increase of 62bps yoy and 37bps sequentially. Fee income for Q3FY20 at Rs5,635cr is up by 19.30% yoy.
Operating Profit increased to Rs18,223cr in Q3FY20 from Rs12,625cr in Q3FY19, an increase of 44.34% yoy.
Credit Growth came in at 6.79% yoy, mainly driven by Retail-Personal Advances (+17.49% yoy).
Provision Coverage Ratio (PCR) improved to 81.73%, up 710bps yoy and 50bps qoq. Slippages of Rs16,525cr includes exposure to a large Housing Finance Company (~Rs7000cr)
Credit Cost as at the end of Q3FY20 has declined 62 bps yoy to 1.80%. Cost to Income Ratio has improved from 56.97% in Q3FY19 to 52.45% in Q3FY20. Capital Adequacy Ratio (CAR) improved to 13.73% as on Dec 2019, an increase of 96bps yoy and 14bps sequentially.
During the quarter, the bank exercised the option of lower tax rate taking a one-time hit of Rs1,333cr. Excluding the impact of this one-time additional hit, net profit in Q3FY20 would have been Rs6,916cr vs. Rs3,955cr in Q3FY19.
Profit Before Tax (PBT) for Q3FY20 at Rs10,970cr, an increase of 65.74% yoy and 116.80% qoq
Net Interest Income grew by 22.42% yoy and 12.92% qoq. Domestic Net Interest Margin (NIM) improved to 3.59% in Q3FY20, registering an increase of 62bps yoy and 37bps sequentially. Fee income for Q3FY20 at Rs5,635cr is up by 19.30% yoy.
Operating Profit increased to Rs18,223cr in Q3FY20 from Rs12,625cr in Q3FY19, an increase of 44.34% yoy.
Credit Growth came in at 6.79% yoy, mainly driven by Retail-Personal Advances (+17.49% yoy).
Provision Coverage Ratio (PCR) improved to 81.73%, up 710bps yoy and 50bps qoq. Slippages of Rs16,525cr includes exposure to a large Housing Finance Company (~Rs7000cr)
Credit Cost as at the end of Q3FY20 has declined 62 bps yoy to 1.80%. Cost to Income Ratio has improved from 56.97% in Q3FY19 to 52.45% in Q3FY20. Capital Adequacy Ratio (CAR) improved to 13.73% as on Dec 2019, an increase of 96bps yoy and 14bps sequentially.
State Bank of India is currently trading at Rs317.40 up by Rs6.7 or 2.16% from its previous closing of Rs310.70 on the BSE.
The scrip opened at Rs313.65 and has touched a high and low of Rs321.60 and Rs308.70 respectively. So far 6,66,21,407 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs2,77,287.68cr
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