ICICI Direct: SBI Q2 Review - Materialising Of Management Optimism To Be Watched   
Customers wait in line at a State Bank of India branch in Mumbai, India. (Photographer Dhiraj Singh/Bloomberg)

ICICI Direct: SBI Q2 Review - Materialising Of Management Optimism To Be Watched   

Bookmark

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.

Click on the attachment to read the full report:

ICICI Direct SBI Q2FY21 Result Update.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.