SBI Q3 beats estimates, PAT up at Rs 3263 cr

India's largest lender, State Bank of India 's (SBI) has posted a better than expected third quarter (Oct-Dec) performance. Its net profit rose more than 15% (year-on-year) to Rs 3263 crore on higher interest income. 

Net Interest Income (NII) or the difference between interests earned and expended rose nearly 27% to Rs 11466 crore.

Net Interest Margin (NIM) also increased to 4.05% compared to 3.8% in July-September quarter.

The gross non-performing asset (NPA) ratio stood at 4.61% as against 4.19% in the previous quarter (Q2). The net NPA ratio 2.22 versus 2.04% in Q2.

Loan book expanded more than 17% (YoY) to Rs 8.69 lakh crore. Incremental credit growth (in between April and December) has been 13%. Retail book grew by 12% YoY, to Rs 1.75 lakh crore.

Deposit grew nearly 14%, YoY, to Rs 10.01 lakh crore.

Total provision are at round Rs 4000 crore, in Q3 as against Rs 3936 crore a year back. Provision against loan losses zoomed 84% YoY to Rs 3006 crore.