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Dolat Capital Report
State Bank of India reported a healthy net interest income growth of 15% led by net interest margin expansion, while pre-provision operating profit grew at 12% YoY adjusted for impact of stake sale in previous quarters.
Excluding agriculture loans, collection efficiency improved to 97% in September.
Pro forma non-performing assets were sharply higher at 5.88% (up 60 basis points QoQ), led by slippages of Rs 140 billion or 2.5%.
Over 60% of these came from the agriculture portfolio.
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