SBI back in the black in Q1; key takeaways

Mumbai: State Bank of India on Friday reported a profit of Rs 2,312.20 crore for the June quarter compared with a loss of Rs 4,875.85 crore in the corresponding quarter last year.

However, it fell short of analysts’ expectations. The number came in less than ET NOW poll estimate of Rs 4,000 crore.

Here are the key takeaways:


In the black
The bank posted a profit of 2,312.30 crore in the June quarter compared with a loss of 4,875.85 crore in the same quarter a year ago.

NPAs ease
Gross NPAs stood at 7.53 per cent compared with 10.69 per cent in the same quarter a year ago.

Provisions fall
Provisions for the June quarter came in at Rs 11,648.45 crore down 10 per cent compared with Rs 13,037.90 crore a year ago.

Interest rises
Interest earned in the quarter ended June amounted to 62,637.81 crore compared with 58,813.18 crore, an increase of 6.5 per cent.

CET1 Ratio:
CET1 ratio drops marginally to 9.61 per cent in the quarter from 9.80 per cent in June 2018 quarter.