SBI Posts Strong Q3; Undemanding Valuations: Dolat Capital 
Exterior of State Bank of India, Navi Mumbai branch (Photo: BloombergQuint)

SBI Posts Strong Q3; Undemanding Valuations: Dolat Capital 

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.

Dolat Capital Report

Operating metrics were in-line with net interest income and pre-provision operating profit growth 4% and -5% YoY led by a high base of Q3 FY20.

Pro forma gross non-performing asset declined by 44 basis points QoQ to 5.44% led by low pro forma net slippages of Rs 24 billion.

While gross pro forma slippage was at approximately Rs 80 billion or 1.4%, recoveries of ~Rs 60 billion from last quarter’s agri book resulted in much lower net pro forma slippage for the quarter.

Nonetheless, even the Rs 80 billion were within management guidance and far below our expectations.

Click on the attachment to read the full report:

Dolat Capital State Bank of India Q3FY21 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 author entity 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.