Is SBI Quarterly Results Worrying? Shares Climb 5% After Results | CORPORATE ETHOS

Is SBI Quarterly Results Worrying? Shares Climb 5% After Results

By: | May 23, 2018
SBI
May 23: India’s largest commercial bank, State Bank of India has reported a loss of Rs 7718 cr in Q4FY18 but its share prices have gained 5% to Rs 266.80 after hitting a high of 269.70.  The share prices had fallen to a low of Rs 239 last week before rebounding.
Annual standalone loss has fallen to Rs 6,547 cr while consolidated loss has fallen to Rs 4187.41 cr.
Total income rose 18% to Rs 68,436 cr in Q4 while annual income rose to Rs 3,01,491.31 cr as against Rs 2,98,640.26 cr the previous year.
Provisions for non performing assets has risen from Rs 10,992.92 in Q4FY17 to Rs 24,080.05 cr in Q4FY18.  For the whole year, provisions have risen to Rs 71,525.99 cr as against Rs 55,916.75 cr.
Amount of gross non performing assets has risen to Rs 2,23,427.46 cr in Q4 as against Rs 1,12, 342.99 cr in Q4FY17. Net NPA is 5.73% as against 3.71% last year. Return on assets ahs fallen to -0.92%.
The merger of associate banks State Bank of Bikaner and Jaipur, State Bank of Mysore, State Bank of Travancore and Bharatiya Mahila Bank Ltd took place last year.
Rajnish Kumar, Chairman, SBI said that FY18 was a year of disappointment and challenges but this year the bank is more: hopeful. SBI may also list SBI General Insurance and SBI cards will will lead to thousands of crores of rupees gain for the bank.
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