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.
Motilal Oswal Report
State Bank of India reported a steady quarter, with an earnings beat of 12% on our estimate.
This was aided by controlled provisions despite a challenging environment. Core operating performance was in-line.
Asset quality ratios deteriorated marginally on elevated slippage in retail/small and medium enterprise.
However, SBI's management clarified that slippage worth ~Rs 48 billion has already been recovered/upgraded in July 2021.
Furthermore, the total restructured book remained in check, while special mention account -I/II (exposure of more than Rs 50 million) was stable QoQ at Rs 113 billion (~0.5% of loans).
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