SBI

SBI posted a disappointing set of numbers for Q3FY16. Its net profit for the quarter recorded a massive 62% (YoY) drop in net profit at Rs.1115 crore on the back of higher provisioning. There was a huge 82% (QoQ0 and 49% (YoY) rise in provisioning at Rs.7949 crore. NII declined 1% (YoY) to Rs.13,606 crore though some support came in from other income which rose 18% to Rs.6177 crore. EBITDA showed a 2% rise at Rs.9598 crore.

In terms of asset quality, Gross NPA rose to 5.1% v/s 4.15% (QoQ) and Net NPA was up at 2.89% v/s 2.14%. The Bank reported fresh slippages to the tune of Rs.20,692 crore and this is over 250% higher than the Rs.5875 crore reported in previous Q3. CAR for the quarter stood at 12.45%, marginally better than 12.17% in Q2 and 12.03% in previous Q3.