The Indian Wire » Business » SBI reports about it’s loss; Net bed loans higher

SBI reports about it’s loss; Net bed loans higher

State Bank Of India

The nation’s largest lender saw its net bad loans ratio spiking to 5.61% of advances, from 4.24% during the third quarter of 2017-18.

State Bank of India (SBI) , India’s biggest lender by assets , on Friday reported a net loss of Rs 2,416 crore for the fiscal third quarter after setting aside funds to cover rising bad loans and losses on its bond portfolio.

It had reported a net profit of Rs 1,582 crore in the September quarter. This was the lender’s first quarter under the chairmanship of Rajnish Kumar , who took over in October.

The gross dud assets ratio jumped meanwhile from 7.23% to cross the double digits mark at 10.35% during the quarter under review.

In absolute or gross terms, the bank at the standalone level had Rs 1,99,141.43 crore of its assets as non-performing , up from Rs 1,08,172.32 crore in the comparable period in 2016.

Its net non-performing assets almost doubled to Rs 102,370.12 crore, up from Rs 61,430.45 crore , SBI said in an exchange filing.

Consequently , its net non-performing assets almost doubled to Rs. 102,370.12 crore , up from Rs. 61,430.45 crore , State Bank of India said in an exchange filing.

The bank saw its non-interest income decline by 29.75 per cent , from Rs. 11,507 crore to Rs. 8,084 crore , as net interest income plunged due to mark-to-market losses from its treasury operations.

Non-fee income fell 18.38 per cent from Rs. 14,401 crore to Rs. 11,755 crore.

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