February 21, 2018, 10:48 pm IST
×
News Updates


Business



Business
SBI posts surprise loss in Q3

SBI posts surprise loss in Q3

 Feb 10, 2018

India’s largest lender State Bank of India (SBI) has reported a shocking massive quarterly loss of Rs. 2,416 crore on Friday.  Bad loans and hardening of bond yields are the reasons for the loss in the quarter ended December 2017. SBI's bad loans have risen also because of its merger with its five subsidiary banks earlier in 2017.

On consolidated basis, the bank posted a net loss Rs 1,886 crore in the third quarter against a net profit of Rs 1,840 crore in Q2.

The bank's bad loans or non-performing assets (NPAs) in Q3 stood at Rs 1.99 lakh crore from Rs 1.86 lakh crore in the previous quarter. The ratio of bad loans jumped to 5.61 per cent of advances from 4.24 per cent.

Bad loans have nearly doubled in the banking sector in the past four years.  The country's 21 state-run banks accounted for the bulk of the Rs 9.46 lakh crore worth of stressed loans as of end-September. Gross bad loans as a percentage of total loans stood at 10.35 per cent at end-December, compared with 9.83 per cent in the previous quarter. Total provisions, including for bad loans, rose 12.6 per cent to Rs 14,171 crore.



More News











Pick of the Day

About us

In the surfeit of information that inundates us relentlessly, now (24 x 7 so to speak), it is difficult to separate the chaff from the grain. With so much chaff getting into the public domain, the real news happening on the ground becomes hard to make out. We are embarking on this portal in an effort to clarify things and provide focus on the real d ...

Read more

Newsletter

Enter email address to subscribe the newsletter

Copyright © 2017 PENNEWS. All Rights Reserved | Designed by : Tedsys