SBI Q1 results preview: Net profit likely to jump 2.6 times on the back of strong loan growth, improvement in asset quality
State Bank of India is scheduled to report its financial results for the April-June period on Friday, August 4. According to Zee Business research, SBIs quarterly net profit is expected to grow 2.6 times on a year-on-year basis to Rs 15,680 crore for the June quarter.
State Bank of India (SBI) — the country's largest lender — is scheduled to report its financial results for the April-June period on Friday, August 4. Analysts expect the state-run banking behemoth to stage a strong performance driven by double-digit growth in loans as well as deposits and improved asset quality.
According to Zee Business research, SBI is estimated to report a standalone net profit of Rs 15,680 crore for the first quarter of the current financial year, which translates to an increase of 2.6 times compared with the corresponding period a year ago. The analysts estimate the state lender’s net interest income (NII) — or the difference between interest earned and interest paid — to increase 30.1 per cent on a year-on-year basis to Rs 40,600 crore.
SBI is expected to register growth of 15-16 per cent in loans and 10-12 per cent in deposits on a year-on-year basis, according to the research.
SBI shares
The State Bank of India stock finished the June quarter 9.4 per cent stronger, in line with a 10.5 per cent rise in the benchmark Nifty index.
As of August 1, SBI shares had grown 13 per cent in the past year as against a 13.8 per cent upmove in the headline index.
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