SBI Q4 Review - Walking The Talk: ICICI Direct
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 posted strong performance on the asset quality front wherein slippages and restructuring were within guidance while sufficient provisioning buffer also provides comfort.
Business growth was in-line with estimates while profitability was boosted by a sharp jump in other income.
On a reported basis gross non-performing asset saw a jump from 4.77% to 4.98% as standstill asset classification norms are now removed.
However, when compared with proforma gross non-performing asset number of 5.44% in the previous quarter, the asset quality showed a meaningful improvement.
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