What to expect from State Bank of India in Q1
Country's largest lender State Bank of India (SBI) is set to announce its results for the quarter ended June 2012. Analysts on an average expect standalone profit after tax to grow by 129.25% year-on-year to Rs 3,630.24 crore due to low base effect in a year ago period, but quarter-on-quarter basis the same is expected to be flat to negative.
August 10, 2012 / 12:20 IST
Country's largest lender State Bank of India (SBI) is set to announce its results for the quarter ended June 2012 on Friday. Analysts on an average expect standalone profit after tax to grow by 129.25% year-on-year to Rs 3,630.24 crore due to low base effect in a year ago period, but quarter-on-quarter basis the same is expected to be flat to negative.
Net interest income is seen going up by 20.17% to Rs 11,649.75 crore from Rs 9,699.5 crore during the same period.Analysts feel slippages would remain high, given the challenging macro environment. However, higher upgrades and recoveries should result in lower net slippages and lower increase in gross non-performing assets (NPAs). They expect State Bank of India to report a loan growth of 15% to 18% YoY. Deposit growth would remain moderate between 10% and 12% as the bank continues to stay away from bulk deposits.The stock dropped more than 4% to close at Rs 1,971.95 amid huge volumes on the BSE. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
