Analysts Bullish on SBI’s Profit, Expect Up to 100% Surge: SBI Q2 Preview

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Analysts Bullish on SBI’s Profit, Expect Up to 100% Surge: SBI Q2 Preview
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The country’s biggest lender, State Bank of India (NS: SBI ) is set to report its earnings performance for the September ending quarter on Wednesday, and most brokerages are highly bullish on the state-owned lender’s net profit for the quarter.

International brokerages like Nomura and HSBC expect the profit after tax to jump 87% and 73% on a year-on-year basis, respectively, to Rs 7,901 crore. 

According to some brokerages, net profit is expected to rise 58.5% YoY to Rs 7,249.8 crore, while analysts at CNBC peg the profit to grow by 69% YoY and 19% QoQ. On the contrary, Prabhudas Lilladher bulls high the lender’s PAT and expects it to surge more than double, by 102.5% YoY to Rs 9,263.3 crore and 42% QoQ.

The figures do not look that bold for the lender’s NII and NIM, as analysts project mixed views about it. The Street expects a weak NII growth from 0.6% - 4.6% YoY and 4% QoQ, while the bank’s NIM is expected to show recovery on a sequential basis. It is pegged at 3% for the quarter in focus.

ICICI Direct expects NII to be flat at Rs 28,009 crore on a YoY basis, while Nomura expects it to grow by 4.6% YoY to Rs 29,471.2 crore.

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