SOVEREIGN DEBT RESTRUCTURING | MASTERCLASS

A deep dive masterclass on sovereign debt restructuring, to be conducted virtually by Asian high yield bond expert Florian Schmidt.

30 June 2022 (Thu), 5pm Singapore/HK time

India’s largest lender SBI registered its highest quarterly net profit of INR 76.3bn ($1bn) in 2Q2022, a 67% YoY jump. Net interest income was up 10.7% YoY to INR 311bn ($4.2bn) with its net interest margins (NIMs) up 16bp YoY and 35bp QoQ to 3.5%. Loan-loss provisions were down 52% YoY to INR 2.7bn ($36mn). The lender’s gross non-performing assets (GNPAs) fell 38bp YoY and 42bp QoQ to 4.9% and its net non-performing assets (NNPAs) fell 7bp YoY and 25bp QoQ to 1.52%. SBI’s current account-savings account (CASA) ratio improved 85bp YoY to 46.24%. Its CET1 ratio stood at 9.76%, down 15bp QoQ.

SBI”s dollar bonds were flat with its 4.5% 2023s at 106.07, yielding 1.23%.

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