BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
State Bank of India reported a healthy operational performance with net interest income surging 14.6% YoY on the back of sequential improvement in margins.
Other income declined by 29% YoY and 10.2% QoQ as a result of higher base due to stake sale.
Cost to income ratio for the bank increased by 514 basis points QoQ to 55.16% led by one-off wage provision of approximately Rs 1,600 crore.
Provisions for the quarter declined by 19% QoQ and 23% YoY owing to lesser Covid-19 provisions.
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