India's largest bank SBI is set to release its first quarter earnings today and the street has its eyes set on the asset quality after Bank of Baroda reported its numbers yesterday.
Nilesh Parikh of Edelweiss Securities expects SBI to report slippages in the range of Rs 15,000-17,000 crore for the quarter ending in June.
In an interview with CNBC-TV18 he said that the gross non-performing asset (GNPA) is expected to be around 7 percent for the bank in this quarter.
Commenting on the current public sector bank scenario, he said that SBI at present is best bet amongst the PSBs and the main problem with the banking system has been the corporate slippages.
Bank of Baroda's Q1 earnings were not very disappointing as per Parikh and he feels that the new mangements plan for restructuring the bank to focus more on profitable avenues is a positive for the bank going forward.For entire interview, watch accompanying video.
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