Provision
coverage ratio stood at 61.57 percent in June 2016, which improved compared to
60.69 percent in March 2016. Asset quality looked more or less stable, though
it weakened a bit. Gross non-performing assets (NPA) as a percentage of gross
advances increased 44 basis points to 6.94 percent and net NPA 24 basis points
to 4.05 percent on sequential basis.
SBI said
fresh slippages stood at Rs 8,790 crore for the quarter, including corporate
slippages at Rs 3,681 crore. That was sharply lower compared to Rs 30,313 crore
in preceding quarter.
Non-interest
income (other income) in Q1 shot up 44.2 percent Rs 7,335 crore and operating
profit increased 20.1 percent to Rs 11,053.9 crore compared with year-ago
period. Tax expenses declined 26 percent to Rs 1,120 crore in same period.
Credit
cost ratio improved to 1.68 percent in June quarter against 3.64 percent in
March quarter. At 13:01 hours IST, the scrip of State Bank of India was quoting
at Rs 245.00, up Rs 18.05, or 7.95 percent amid high volumes on the BSE.
