SBI Q1 PAT seen up 4.7% at Rs 3393.6 cr: Emkay

Written By Unknown on Kamis, 07 Agustus 2014 | 18.00

Net interest income is expected to increase by 1.1 percent Q-o-Q (up 13.3 percent Y-o-Y) to Rs 13047.1 crore, according to Emkay Global Financial Services.

Emkay Global Financial Services has come out with its April-June quarter earnings estimates for the banking sector. The brokerage house expects State Bank of India  (SBI) to report a 11.6 percent growth quarter-on-quarter (growth of 4.7 percent year-on-year) in net profit at Rs 3393.6 crore.

Net interest income is expected to increase by 1.1 percent Q-o-Q (up 13.3 percent Y-o-Y) to Rs 13047.1 crore, according to Emkay Global Financial Services.

Emkay Global Financial Services' report on State Bank of India:

SBI to witness 13.3 percent Y-o-Y growth in NII driven by 15 percent Y-o-Y loan growth and stable NIM;s at 2.9 percent. Expect operating profit to grow by 13 percent with lower pension related expenses. Stress asset addition estimated at Rs 160 billion with slippages at Rs 100 billion and restructuring at Rs 70 billion. With higher provisions, expect net profit growth at 4 percent Y-o-Y. Key things to watch: Slippages, restructuring and recoveries.

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