The country's biggest lender in Q2 posted a standalone net profit of Rs 1,581 crore.
Total deposits of the bank stood at Rs 5.73 lakh crore as on December 31, 2017 against Rs 5.89 lakh crore at the end of December 2016. "The slippage ratio for nine months was lower than past year and we aim to contain fresh slippages within two per cent in FY19", he said adding that the bank has provided almost 60 per cent towards cases under resolution via NCLT. The year-ago numbers have been restated after the merger.
The Calcutta-based bank envisages a provisioning requirement of Rs 722.12 crore in the January-March quarter for stressed assets.
A bulk Rs 10,000 crore of divergences were from the power sector and Kumar said further pain is in the offing, with high exposure to the sector. He added that there may also be cases where there can be a write-back of money already set aside.
Thus, the bad loan provisions for the quarter rose 92.61 per cent to Rs 3,155 crore as against Rs 1,638 crore in the year-ago period. The Rs 20,000 crore infusion will reduce government stake by up to 4 percentage points, he said.
It said the growth in advances was fuelled on account of retail loan growth of 33.37 per cent and within retail loan, home loan grew by 44.33 per cent.
Loan growth: After a period of sluggishness, system loan growth has started reviving and touched the 10% mark in December.
SBI Chairman Rajnish Kumar, who took the helm in October, said bad loan additions were peaking.
Reiterating that the bank is doing well on various other measures, he tried to paint an optimistic picture for the future saying, "there is banking beyond NPAs as well".