Q4FY21 Result Update - State Bank of India - ICICI Direct

SBI posted strong performance on the asset quality front wherein slippages and restructuring were within guidance while sufficient provisioning buffer also provides comfort. Business growth was in-line with estimates while profitability was boosted by a sharp jump in other income. On a reported basis GNPA saw a jump from 4.77% to 4.98% as standstill asset classification norms are now removed. However, when compared with proforma GNPA number of 5.44% in the previous quarter, the asset quality showed a meaningful improvement. Slippages during the quarter were at Rs. 21934 crore of which Rs. 16461 crore were proforma slippages while recoveries and upgrades were at Rs. 4329 crore. Pool of SMA1 & 2 accounts came down from Rs. 17946 crore to Rs. 11519 crore QoQ. For FY21, total slippage and restructuring came in at Rs. 46416 crore, well within earlier guidance of Rs. 60000 crore. For SBI PCR was at 71% while it holds non-NPA provisions worth Rs. 25376 crore (~1.0% of loans), which includes Covid contingency provision of Rs. 6346 crore. Total restructuring request received for FY21 is Rs. 17852 crore (~0.7% of loans).

For details, click on the link below: Link to the report

Shares of STATE BANK OF INDIA was last trading in BSE at Rs.401.1 as compared to the previous close of Rs. 384.55. The total number of shares traded during the day was 9416849 in over 78920 trades.

The stock hit an intraday high of Rs. 404.4 and intraday low of 378.1. The net turnover during the day was Rs. 3704489084.

Source : Equity Bulls

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