SBI shares ride on Q2 earnings beat, retail bet for growth
Within retail loans, SBI is seeing good traction in home loans, which constitutes 23% of its domestic loan book. The bank is also seeing good growth in the personal loans segment
The country’s largest lender, State Bank of India (SBI), posted decent results in second quarter, with reported earnings beating the street’s estimates by a mile. A fall of around 22% year-on-year (y-o-y) in total provisions for bad loans led to a 52% jump in net profit to ₹4,574.16 crore, which exceeded the consensus estimate of ₹3,688.8 crore of Bloomberg analysts.
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