Medium impact
Private banks rise 2%, state-run banks fall 1.3% as SBI reports results
SBI reported a standalone September-quarter net profit of ₹23,038 crore, up 14.3% from a year earlier, helped by one-off gains of about ₹7,289 crore. Net interest income rose 14.7% to ₹49,143 crore, total loans grew about 17.8%, and the gross bad-loan ratio improved to 1.39%. Operating profit, however, slipped 1.4%, which reports linked to the share's fall. Private banks moved the other way. HDFC Bank rose 3.6% and ICICI Bank 2.7%, and the Nifty Private Bank index gained 1.98%. Among the edition's banks, Bank of Maharashtra rose 2% while IDFC First Bank slipped 0.6%.
The chain of consequences
- 1HDFC Bank rises 3.6% and ICICI Bank 2.7% on foreign buying
- 2SBI reports 14.3% profit growth but operating profit dips 1.4%
- 3SBI falls 1.7%
- 4Nifty PSU Bank index falls 1.27%
Tends to gain
Large private lenders
Tends to lose
State-run banks, which had rallied earlier
If it reverses
If investors focus on SBI's improving bad-loan ratios and 18% loan growth, state-run banks could recover.
Companies in this story
Other stories today
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