SBI reports poor Q4 2013 numbers; slippages continue

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 SBI reports poor Q4 2013 numbers; slippages continue
State Bank of India has reported a poor set of Q4 2013 numbers, wherein profit after tax has come in at Rs 3299 crores, as against Rs 3396 crores in the quarter ending 31st December 2012.

Fresh slippages have been to the tune of Rs 5868 crores for Q4 2013. Gross non performing assets of the bank has come down marginally to 4.75 per cent as on March 31, 2013, as against 5.3 per cent for December 31, 2013. The net non performing assets have also declined for the period under review. Domestic net interest margin was placed at 3.66 per cent, while the overall NIM was at 3.34 per cent.

The board of the bank has declared a Dividend of Rs. 41.50 per share. The stock of SBI plunged 6.73 per cent on the Bombay stock Exchange.

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