SBI maintains credit outlook amid Middle East conflict
SBI kept its loan guidance at 13% to 15% but warned of Middle East conflict. Profit missed estimates as treasury income fell due to higher bond yields.
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State Bank of India shares fell 6.7% after the lender reported a quarterly profit of 196.84 billion rupees, missing analyst estimates of 203.12 billion rupees. The decline marks the steepest single-session drop in nearly two years as treasury income slumped to 12.59 billion rupees from 89.91 billion rupees a year earlier. The broader market fell 0.62% as renewed U.S.-Iran hostilities dragged global equities.
