SBI in the green

State Bank of India is looking pretty smart on the bourses today, especially after the battering which Bank of Baroda got. SBI is currently trading 4% higher at Rs.243.40, closer to its intra day high of Rs.244.70. Its 52-week high and low stands at Rs.335.90 and Rs.220.60 respectively.

For Q2FY16, which came in a few minutes ago, the Bank posted a smart of numbers. Its net profit was up 25% at Rs.3879 crore (YoY) and this was on the back of a smart 7% jump in NII at Rs.14252 crore.

Asset quality has also improved. Gross NPA improved from 4.29% to 4.15% (QoQ) while Net NPA got better from 2.24% to 2.14%.

In terms of provisions, total provisioning for the quarter was at Rs.5743 crore, up 8% sequentially. Of this, Rs.5331 crore was made for NPAs, up 24%.