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Rate cut of 25 bps won't have big impact on earnings: Setty
Financial Express Kochi
|February 07, 2025
STATE BANK OF India (SBI) does not expect any significant impact on its earnings even if the Reserve Bank of India (RBI) reduces policy rates by 25 basis points, chairman CS Setty said on Thursday.
STATE BANK OF India (SBI) does not expect any significant impact on its earnings even if the Reserve Bank of India (RBI) reduces policy rates by 25 basis points, chairman CS Setty said on Thursday. He believes deposit rates have peaked.
"We will take a call on deposit rates as we go forward. With a small rate cut of 25 bps, I do not think there will be any significant impact on earnings," Setty said at the Q3 earnings press conference. "We do not see any major impact of the rate cut on deposit or advances in the immediate future."
After keeping it unchanged for two years, the RBI is widely expected to cut the repo rate by 25 bps on Friday. Declining interest rates put pressure on banks' net interest margins as deposits get repriced quicker than advances.
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