Published: Sat, November 12, 2016
Economy | By Melissa Porter

SBI says Rs 53000 cr deposited in banks since Thursday

SBI says Rs 53000 cr deposited in banks since Thursday

On a net basis, NPAs advanced to 4.19 per cent from 4.05 per cent in the June quarter of FY17. Total Income has increased from Rs. 8846.00 million for the quarter ended September 30, 2015 to Rs. 9674.60 million for the quarter ended September 30, 2016.

Recovery in NPA accounts for the half year ending September 30 was ₹3,534 crore and during the second quarter it was ₹2,069 crore, said a press release from the bank. "As it is disinflationary we believe lending rates will come down", she said.

The bank reported loan growth of 8.1 per cent to Rs 14.81 lakh crore and its total deposits grew 13.7 per cent to Rs 18.58 lakh crore in the same period.

Following it, the CASA ratio was at 42.74%, expanding by 50 basis points from 42.24% of September 2015.

SBI Chairperson Arundhati Bhattacharya while announcing its quarterly result today in Mumbai said that till now, the amount of deposit is 22,000 crore rupees.

"On Thursday, cash deposits were Rs21,150 crore while exchanges were Rs723 crore. This was after demonetization".

Bhattacharya said with the kind of deposits flowing into the bank, the cost of funds is going to ease which may help in reduction in deposit rates and marginal cost of funds based lending rate (MCLR). Credit growth is expected to be around 10-11%, while full year credit growth guidance is at 10-12%.

The SBI stock was trading 3.76 per cent lower at Rs 271 level on the BSE.

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