SBI - Q2FY13 Result First Cut - Microsec

State Bank of India Ltd has announced its Q2FY13 result on 9th November 2012.

The bank's total income increased by 9.10% QoQ and 21.02% YoY to INR23424.18 crores, driven by 9.24% and 50.18% YoY growth in its Net Interest Income (NII) and Other Income respectively. Whereas, Profit After Tax (PAT) decreased by 6.14% QoQ and increased 31.84% YoY to INR4575.31 crores. During the quarter, bank has reduced its provision by 16.15% QoQ and 35.86% YoY to INR2805.90 crores which leads to improve its bottom line.

Bank's loans book and total deposits expanded by 16.04% and 15.85% YoY to INR1231129.25 and INR1522606.90 crores respectively. On the assets quality front, the bank's assets quality is still the matter of concern. GNPA and NNPA increased by 16 and 22bps QoQ and 96 and 40bps YoY to 5.15% and 2.44% respectively. On the margin front, Net Interest Margin (NIM) stood at 3.77%, improved by 20bps QoQ. Capital Adequacy Ratio (CAR) of the bank stood at 12.63%, which is 363bps or 3.63% than the regulator stipulated norms.

Source : Equity Bulls

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