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SBI Net Profits Drop To Rs 2,538 Crores; NPAs Worsen
Profits in the country's largest lender, State Bank of India fell to Rs 2538 crores and asset quality worsened.
State Bank of India, the country's largest lender reported a net profit of Rs 2,538 crores for the quarter ending Sept 30, 2016, as against Rs 3,879 crores for the quarter ended September 30, 2015.
The gross non performing assets at the bank rose to 7.14 percent versus 6.94 percent. The increase in the NPAs was not taken well by the markets and the stock fell 3 per cent in trade.
The shares of the bank were last trading at Rs 275 on the NSE. Check SBI stock quote here
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