SBI chairman says challenge in mid and small companies continue

KOLKATA (Reuters) - State Bank Of India Chairman said on Thursday it continued to face challenges in the mid and small-sized companies segment.

The lender is reeling under bad debt of 4.75 percent, the highest among Indian banks, and restructured nearly $1.5 billion loans in January-March quarter.

Earlier, SBI posted its first quarterly net profit drop in two years, missing market estimates after being dragged down by lower interest income and higher provisions for loan losses.

(Reporting by Sujoy Dhar; Editing by Anand Basu)

Published Date: May 24, 2013 06:15 AM | Updated Date: May 24, 2013 06:15 AM