SBI Q2 PAT may dip 13% at Rs 3182.3cr: ICICIdirect
Net interest income of State Bank of India are expected to increase by 4.4 percent Q-o-Q (up 9.5 percent Y-o-Y) to Rs 12019.5 crore.
November 13, 2013 / 11:19 AM IST
ICICIdirect.com has come out with its second quarter (July-September) standalone earnings estimates for the banking sector. The brokerage house expects State Bank of India (SBI) to report a 1.8 percent degrowth quarter-on-quarter (down 13 percent Y-o-Y) in net profit at Rs 3182.3 crore.
Net interest income of State Bank of India are expected to increase by 4.4 percent Q-o-Q (up 9.5 percent Y-o-Y) to Rs 12019.5 crore, according to ICICIdirect.com.
ICICIdirect.com's Report on State Bank of India:
With sharp rise in rates of commercial paper in Q2FY14E, demand for credit may have shifted to SBI that has lowest base rate at 9.8 percent. Hence, credit is estimated to grow at strong pace of 20.5 percent Y-o-Y in Q2FY14E, which will also support NII growth of 9.5 percent Y-o-Y to Rs 12019 crore (4.4 percent Q-o-Q growth). GNPA expected to see Rs 2500 crore net addition, MTM hit on investment book may keep provisioning elevated, thereby leading to 13 percent Y-o-Y de-growth to Rs 3182 crore.
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