In this article, we will talk about the SBI Q2 Results Live Updates. Today is the day of SBI quarter results. It is expected that the bank is going to report a subdued quarter with good margin growth in its net profit and interest margin which may remain under pressure. The asset quality might seen in the improvement sequentially which is supported by a shallow stressed asset pool as it has credited the posts that might remain in a stable situation. The net margin in quarter 2 FY24 is contracted by a total of 10 basis points sequentially. Now read this entire article, to learn everything.
SBI Q2 Results 2023
SBI is now all set to announce the quarter 2 results on 4th November 2023, Saturday. It is expected that the State Bank of India is going to report a subdued quarter with an approximate margin rise in the net profit. SBI is the Indian largest lender. It has been said that in the quarter 2 results of SBI might see an increase in net profit whereas, on the other hand, the net interest margin might remain under pressure. According to the source, the public sector lender SBI’s net profit is going to rise by 2.3% YoY to Rs. 13,569 crore. To know more scroll down to the next paragraph of this article.
Where on the other hand the net interest income in Q2FY24 might grow 10.7% YoY on the back of 12% loan growth. Reports have shown that the Net interest margin is now estimated to contract by a total of 10 basis points. Maybe the bank has not seen improvement in the asset quality which is supported by the low-stressed asset pool as it has credited the total cost which might remain stable. SBI may be going to report a net profit of around Rs. 13,569 crore for the Q2 of FY24. Continue reading this article in the next paragraph.
The average estimate of the five brokerages is around 2.3% from Rs. 13,264 crores in the same quarter in the previous year. And there has been a rise of 10.7% on YoY. The bank is now expected that they are going to report a subdued quarter with a marginal rise of the next interest income and net profit. More details regarding the quarter 2 results Fy24 of State Bank of India are going to be shared very soon. So stay tuned to Techballad for more articles like this.