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This Article is From Aug 05, 2021

SBI Q1 Review - Strong Recoveries To Drive Earnings: Centrum Broking

SBI Q1 Review - Strong Recoveries To Drive Earnings: Centrum Broking
Signage is illuminated atop a State Bank of India (SBI) branch at night in Bengaluru, India. (Photographer: Karen Dias/Bloomberg)
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State Bank Of India
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BQ Blue's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Centrum Broking Report

State Bank of India's earnings were healthy on asset quality.

Net interest income was a miss due to interest reversals, lower loan-to-deposit and unutilised credit.

Treasury income was higher while advance under collection account recovery was a beat (included a large aviation account of Rs 16.9 billion), which coupled with lower opex led to a pre provision operating profit beat.

Although SBI's net slippages were more driven by small and medium enterprise/retail, 30% were recouped in the quarter also indicated by lower non performing asset provisions.

This trend continued in July which saw good recoveries. June/July collection efficiency improved to 92/94%.

Click on the attachment to read the full report:

Centrum State Bank of India - Q1FY22 Result Update.pdf
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DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

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