- SBI reported PAT of Rs.55b in 3QFY20, primarily due to one-time tax adjustment hit of Rs.13b. NII grew 22% YoY to Rs.278b
- Loan growth stood at 7.4% YoY, driven by retail loans (+17.5% YoY) and international loans (+16.9% YoY), while corporate loan growth remained flat
- Fresh slippages increased to INR165b, primarily driven by one stressed HFC account (Rs.70b) which bank expects to be resolved by Sep’20
- It also expects recoveries in three other large accounts, plus general recoveries in coming quarters
- SBIN has prudently improved PCR over the last few years, and has one of the lowest stressed assets amongst corporate banks
- Supported by NCLT recoveries, improving fee income trends and controlled opex, SBI remains the best bet among PSU banks
Disclaimer: The above report is compiled from information available on public platforms. inChat team advises users to check with certified experts before taking any investment decisions.
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