|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||282.40 - 298.00|
|52-week range||149.45 - 331.90|
|Beta (5Y monthly)||1.16|
|PE ratio (TTM)||10.79|
|Forward dividend & yield||N/A (N/A)|
|1y target est||348.98|
State Bank of India, the country's largest lender by assets, on Wednesday forecast stronger annual credit growth and beat estimates for quarterly profit as economic activity gathers momentum after being hammered by one of the world's strictest lockdowns. SBI rounds off a strong quarterly earnings season for Indian banks as many benefited from a drop in bad loan provisions or increased interest income and pointed to improved retail demand during the festive season. The bank now expects credit growth to be between 8%-9% for the year, it said, compared with an earlier forecast of 8%.
Khara, one of the bank's four managing directors, replaces Rajnish Kumar, who is due to step down on Oct.7 after being at the helm for three years. A state-run banks appointment panel in August recommended Khara as the next chairman of SBI.
State Bank of India <SBI.NS> (SBI) posted a sharp increase in net profit on Friday and provided a steady outlook for the coming quarters, even as the coronavirus crisis ravages the country's economy. SBI's results come as Indian lenders brace for a flood of potential loan defaults, with many small businesses finding it hard to operate as the pandemic crushes demand. The lender reported an 81% surge in profit and better asset quality as bad loan provisions dropped.