SBI Share price today - Choice Broking maintains Buy rating with target price of Rs 470
SBI Share price today: Choice Broking says State Bank of India (SBI) reported a strong set of numbers for Q3FY21, above market estimates, with net profit at Rs 51.9 bn (13.6% QoQ) on the back of lower provisioning and strong operating performance. Along with strong business growth (credit at 7.6% YoY) and profitability, improvement in asset quality was significant.
SBI reported proforma GNPA at 5.44% (down 44 bps QoQ) and NNPA at 1.81% (27 bps QoQ decline) which looks comforting considering the pandemic led turbulence to economy impacting industry performance: Reuters