Govt Bank Shares Come Crashing Down on Asset Quality Concerns

Posted By:
Subscribe to GoodReturns

Shares in government owned banks came crashing down on asset quality concerns. Bank of Baroda lost a huge 11 per cent, while Bank of Baroda lost 4.3 per cent, state Bank of India was down 4.2 per cent and Bank of India was down 4.45 per cent.

Govt Bank Shares Come Crashing Down on Asset Quality Concerns
Bank of Baroda: Quotes, News
BSE 136.20BSE Quote3.4 (2.50%)
NSE 136.60NSE Quote3.7 (2.71%)
Allahabad Bank: Quotes, News
BSE 40.35BSE Quote1.2 (2.97%)
NSE 40.50NSE Quote1.35 (3.33%)
Government owned banking results have been very poor. Oriental Bank of Commerce saw a huge increase in non performing assets and this was followed by Union Bank of India and Bank of Baroda. It is expected that the larger sector banks like State Bank of India may continue to show patchy results.

Analysts expect a further downgrade of public sector banks and see further slide. A short covering rally in select few stocks cannot be ruled out.

GoodReturns.in

Read more about: state bank of india psu banks
Story first published: Friday, January 30, 2015, 12:35 [IST]
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Find IFSC

Get Latest News alerts from Goodreturns

We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more