ICICIdirect has come out with its third quarter (October-December) earnings estimates for the banking sector. The brokerage house expects State Bank of India to report a 3.6 percent growth quarter-on-quarter (growth of 43.7 percent year-on-year) in its standalone net profit at Rs 3212.9 crore.
Net interest income is expected to decrease by 1.2 percent Q-o-Q (up 3.8 percent Y-o-Y) to Rs 13119.2 crore, according to ICICIdirect.
ICICIdirect's Report on State Bank of India:
Consistent stability in absolute GNPA in last three quarters may continue with net additions seen at Rs 1500 crore only. NII growth may be subdued at 3.8 percent YoY to Rs 13120 crore with credit growth up 11 percent YoY. Strong trading gains may assist other income at Rs 9190 crore. MTM reversals on treasury may help maintain lower provisions. Overall PAT may grow 43.7 percent YoY to Rs 3213 crore.
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