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FinvestCapitals
SBIN
State Bank of India posted Q1FY21 earnings almost in line with expectations for quarterly and annual profits. The bank's NII for Q1FY21 stood at Rs 26,642 Cr, increasing by 16.1% YoY/17.0% QoQ. PPOP increased by 24.7% YoY/7.0% QoQ and Net Income stood at Rs 4,189 Cr, up by 81.2% YoY/17.0% QoQ. Advances growth (+7.7% YoY/down by 1.2% QoQ) was driven primarily by fresh SME segment disbursals which grew by 4.1% QoQ while retail loans grew a tad slower by 0.2% QoQ and the agri & corporate portfolio de-grew sequentially. The deposits grew by 16.0% YoY/5.5% QoQ in Q1FY21, and was driven by both savings (up 8.4% YoY/17.3% QoQ) and term deposits (15.4% YoY/5.4% QoQ) after consumption trend slowed down due to the pandemic
Aug 9 12:59 PM
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NSE:SBIN price when posted: 190.7