Q2FY15 Result Review - State Bank of India :: HDFC Sec, link

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SBI reported an overall stable performance in Q2FY15 with improvement in profitability. Asset quality was also maintained with lower slippages. Fresh slippages during the
quarter stood at Rs 7700 cr compared to Rs 9900 cr in Q1FY15. NNPAs stood at 2.73% compared to 2.66% q-o-q. SBI reported a 30.5% y-o-y improvement in PAT on back of
higher other income and stable net interest income. Domestic NIMs were slightly lower at 3.49% compared to 3.54% in Q1FY15 while CASA stood at 42.8%. Cost to Income Ratio
has gone up from 49.8% to 52.8% q-o-q.
Consolidated NII was up 8.9% y-o-y while Net Profits were up 31% y-o-y to Rs 4023.8 cr.
Domestic NIMs stable at 3.49%
SBI reported NII of Rs 13274.6 cr, up 8.4% y-o-y and 0.2% q-o-q. Interest income has gone up 9.8% y-o-y and 2.1% q-o-q to Rs 37262.6 cr while Interest expenses have gone up 10.7% y-o-y
and 3.2% q-o-q to Rs 23988 cr. Domestic NIMs have remained stable y-o-y at 3.49% in Q2FY15 though lower than 3.54% in Q1FY15. International NIMs are lower from 1.50% in Q2FY14
compared to 1.20% in Q2FY15. Spreads have remained stable at 4.26% compared to 4.1% in Q2FY14 and 4.3% in Q1FY15.


LINK
http://www.hdfcsec.com/Share-Market-Research/Research-Details/StockReports/3009918