For Quick Alerts
For Daily Alerts

SBI Net Profits Rise; NPAs Swell


India's largest lender, State Bank of India (SBI) reported an almost 3-fold rise in net profits to Rs 3,032 crores for the quarter ending June 30, 2017 from Rs 1,046 crores reported in the previous quarter of last year.


SBI Net Profits Rise; NPAs Swell
However, the asset quality deteriorated sharply with the gross non performing assets rising to 9.97 per cent from 6.9 per cent (quarter-on-quarter).

The sharp fall in the asset quality took the markets by surprise. The stock of State Bank of India fell a huge 3 per cent, dragging stocks of many other PSU banks lower.

The write-offs at the bank was placed at Rs 13,176 crores, while the fresh slippages at the bank were placed at Rs 26,249 crores.

The shares of SBI were last trading at Rs 284, down 4 per cent from its previous close. Check stock quote of SBI here

Read more about: sbi
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X