State Bank of India (SBI) for the quarter ended March 2020 reported 2.93% YoY income growth and nearly 5x YoY Net profit growth, to Rs. 3,581 cr. Lower growth in advance book constrained top line
Profit growth came from stake sales in subsidiaries, and while the bank turned profitable it hasn’t really provisioned extra for Covid-related impact
We continue to be optimistic because of general pessimism about PSU Banks and steadily improving . . .
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