{"id":140241,"date":"2023-02-06T09:52:06","date_gmt":"2023-02-06T14:52:06","guid":{"rendered":"https:\/\/44.250.171.167\/?p=140241"},"modified":"2023-02-06T09:52:08","modified_gmt":"2023-02-06T14:52:08","slug":"state-bank-of-india-q3-fy23-earnings-conference-call-insights","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/state-bank-of-india-q3-fy23-earnings-conference-call-insights\/","title":{"rendered":"State Bank of India Q3 FY23 Earnings Conference Call Insights"},"content":{"rendered":"<p><strong>Key highlights from State Bank of India (<a href=\"https:\/\/44.250.171.167\/symbol\/SBIN\/\">SBIN<\/a>) Q3 FY23 Earnings Concall<\/strong><\/p>\n<p><strong>Q&amp;A Highlights:<\/strong><\/p>\n<ul>\n<li>[00:11:08] Mahrukh Adajania from Nuvama enquired about write-offs being marginally higher in 3Q23. Dinesh Khara Chairman replied that write-offs is in the normal course of the business of about INR10,000 crores. Generally write-offs were taken towards 3Q and 4Q, but this time it was in 3Q.<\/li>\n<\/ul>\n<ul>\n<li>[00:11:14] Mahrukh Adajania at Nuvama also asked that on the treasury bit why it\u2019s high in 3Q23. CS Setty MD clarified that it includes some amount of write-back of the MTM process as its mark-to-market requirements have come down.<\/li>\n<\/ul>\n<ul>\n<li>[00:13:29] Mahrukh Adajania of Nuvama queried about the outlook on deposit growth and margins. Dinesh Khara Chairman answered that as of now, SBIN currently have an excess SLR of about 3.2 trillion. SBIN replied that in the buckets where it can attract retail deposit, the bank is ensuring that it must be in line with the market trends.<\/li>\n<\/ul>\n<ul>\n<li>[00:15:36] Rahul Jain with Goldman Sachs enquired about provision for employees of INR5,429 crores in 3Q23, if it\u2019s going to be recurring quarterly number. Dinesh Khara Chairman said there is a provision relating to the wage revision of about INR996 core in 3Q23. The provision for the quarter would be around INR500 crore per month.<\/li>\n<\/ul>\n<ul>\n<li>[00:20:23] Ashok Ajmera of Ajcon Global asked about the corporate credit ratio for FY23 between RAM and corporate. Dinesh Khara Chairman answered that it will be more or less of where it is in the month of December.<\/li>\n<\/ul>\n<ul>\n<li>[00:22:41] Ashok Ajmera of Ajcon Global asked about the increase in credit cost and cost to income ratio and if that trend will continue. Dinesh Khara Chairman answered that it will be trend for 4Q23. SBIN said that beyond 4Q, it depends on how macro economy will be moving.<\/li>\n<\/ul>\n<ul>\n<li>[00:23:30] Ashok Ajmera of Ajcon Global also enquired about the provision on PLI for the nine months. Dinesh Khara Chairman replied that it would not be a very significant amount and will be a very small number.<\/li>\n<\/ul>\n<ul>\n<li>[00:27:18] Abhishek Murarka from HSBC queried about international loans outlook for next one year. Dinesh Khara Chairman answered that in dollar terms, international book has grown by about 9.15%. Currently the focus is to improve NIM of international business.<\/li>\n<\/ul>\n<ul>\n<li>[00:30:46] Abhishek Murarka from HSBC asked about drivers of SME book not growing for some quarters now. Dinesh Khara Chairman said that SBIN has invested well in terms of structures, capacity building and focus. This is showing improvement in SME book last quarter and current quarter.<\/li>\n<\/ul>\n<ul>\n<li>[00:36:21] Kunal Shah at Citigroup asked about the outlook on the corporate credit growth. Dinesh Khara Chairman answered that SBIN has got proposals in pipeline of about INR1.9 trillion and it\u2019s yet to be availed in terms of term loan and working capital under utilization of about INR1.10 trillion. \u00a0Overall INR3 trillion is in corporate book.<\/li>\n<\/ul>\n<ul>\n<li>[00:38:47] Jay Mundra from B&amp;K Securities enquired about loan growth outlook for FY23 and beyond. Dinesh Khara Chairman answered that loan growth is expected in the range of 14-16%.<\/li>\n<\/ul>\n<ul>\n<li>[00:42:05] Jay Mundra from B&amp;K Securities asked about agri loan growth being lower than overall loan growth. Dinesh Khara Chairman replied that the bank has started working on agri and realignment of agri book. SBIN added that it\u2019s on course with its internal target.<\/li>\n<\/ul>\n<ul>\n<li>[00:47:42] Manish Oswal with Nirmal Bang enquired about the funding environment in wholesale market given the busy 4Q. Dinesh Khara Chairman answered that the competitive rates continues to be available to SBIN and in terms of deposit, there could be some uptick on the bulk deposit rate.<\/li>\n<\/ul>\n<ul>\n<li>[00:50:37] Manish Shukla with Axis Capital enquired about wage revision and it assumes what rate of wage inflation. Dinesh Khara Chairman answered it\u2019s assumes about 10% wage inflation.<\/li>\n<\/ul>\n<ul>\n<li>[00:52:17] Manish Shukla with Axis Capital asked about domestic LDR remaining low but borrowings going up. Dinesh Khara Chairman clarified it\u2019s more of a market operation as the company has to evaluate all the options to ensure cost of resource remains lowest.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key highlights from State Bank of India (SBIN) Q3 FY23 Earnings Concall Q&amp;A Highlights: [00:11:08] Mahrukh Adajania from Nuvama enquired about write-offs being marginally higher in 3Q23. Dinesh Khara Chairman replied that write-offs is in the normal course of the business of about INR10,000 crores. Generally write-offs were taken towards 3Q and 4Q, but this [&hellip;]<\/p>\n","protected":false},"author":1767,"featured_media":125416,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"State Bank of India Q3 FY23 Earnings Conference Call Insights #SBIN #Q3 #FY23 #Earnings #Stocks","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9825,392,1],"tags":[151,10169,10097],"class_list":["post-140241","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-call-highlights","category-earnings","category-finance-stocks","tag-banking","tag-earnings","tag-financial-service"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":129537,"url":"https:\/\/alphastreet.com\/india\/state-bank-of-india-q4-fy22-earnings-conference-call-insights\/","url_meta":{"origin":140241,"position":0},"title":"State Bank of India Q4 FY22 Earnings Conference Call Insights","author":"Praveen","date":"May 16, 2022","format":false,"excerpt":"Key highlights from State Bank of India (SBIN) Q4 FY22 Earnings Concall Management Update: SBIN said it clocked highest ever profit of INR31,676 crores for FY22, up 55.2% YoY. Q&A Highlights: Mahrukh Adajania from Edelweiss asked about breakdown of loan book by benchmark rates. Dinesh Khara Chairman replied that T-bill\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":135876,"url":"https:\/\/alphastreet.com\/india\/state-bank-of-india-q2-fy23-earnings-conference-call-insights\/","url_meta":{"origin":140241,"position":1},"title":"State Bank of India Q2 FY23 Earnings Conference Call Insights","author":"Praveen","date":"November 8, 2022","format":false,"excerpt":"https:\/\/youtu.be\/W_FDVFWMDGI Key highlights from State Bank of India (SBIN) Q2 FY23 Earnings Concall Q&A Highlights: [00:12:07] Mahrukh Adajania of IDFC asked about margins, if for the next few quarters SBIN will continue to see margin expansion. Dinesh Khara Chairman answered that the bank will try to keep the NIM at\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":132599,"url":"https:\/\/alphastreet.com\/india\/state-bank-of-india-q1-fy23-earnings-conference-call-insights\/","url_meta":{"origin":140241,"position":2},"title":"State Bank of India Q1 FY23 Earnings Conference Call Insights","author":"Praveen","date":"August 8, 2022","format":false,"excerpt":"Key highlights from State Bank of India (SBIN) Q1 FY23 Earnings Concall Management Update: SBIN said its end-user mortgage portfolio for the bank had the best quarter in 1Q23. Q&A Highlights: Mahrukh Adajania from Edelweiss asked about international loans, which sectors contributed most to international growth. Dinesh Khara Chairman replied\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":146733,"url":"https:\/\/alphastreet.com\/india\/state-bank-of-india-q4-fy23-earnings-conference-call-insights\/","url_meta":{"origin":140241,"position":3},"title":"State Bank of India Q4 FY23 Earnings Conference Call Insights","author":"Praveen","date":"May 19, 2023","format":false,"excerpt":"Key highlights from State Bank of India (SBIN) Q4 FY23 Earnings Concall Q&A Highlights: [00:13:08] An analyst asked about Bank's expectation for credit growth in FY24 and if there a risk of a material increase or impact on domestic margins due to deposit growth and pricing. Dinesh Khara Chairman said\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":133585,"url":"https:\/\/alphastreet.com\/india\/state-bank-of-india-sbin-q1-fy23-earnings-concall-transcript\/","url_meta":{"origin":140241,"position":4},"title":"State Bank of India (SBIN) Q1 FY23 Earnings Concall Transcript","author":"IRS_INDIA","date":"August 6, 2022","format":false,"excerpt":"State Bank of India\u00a0 (NSE:SBIN) Q1 FY23 Earnings Concall dated Aug. 06, 2022 Corporate Participants: Sanjay Kapoor -- General Manager, PPR Dinesh Kumar Khara -- ChairmanAlok Kumar Choudhary -- Managing Director, Retail Business and Operation Analysts: Mahrukh Adajania -- Edelweiss -- Analyst Unidentified Speaker -- Mona Khetan -- Dolat Capital\u2026","rel":"","context":"In &quot;Earnings Call Transcripts&quot;","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"Earnings Conference Call Transcript","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":127208,"url":"https:\/\/alphastreet.com\/india\/state-bank-of-india-q3-fy22-earnings-conference-call-insights\/","url_meta":{"origin":140241,"position":5},"title":"State Bank of India Q3 FY22 Earnings Conference Call Insights","author":"Praveen","date":"February 8, 2022","format":false,"excerpt":"https:\/\/www.youtube.com\/watch?v=xg48NKw32pY Key highlights from State Bank of India (SBIN) Q3 FY22 Earnings Concall Management Update: SBIN said its team is committed to deliver 15% plus ROE consistently over the long term and as credit growth picks up the bank expects the profitability ratios to improve further. Q&A Highlights: Mahrukh Adajania\u00a0\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/140241","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1767"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=140241"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/140241\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/125416"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=140241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=140241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=140241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}