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SBI consolidated net loss at Rs 1,887 cr in Oct-Dec 2017 quarter as higher bad loan provisioning weighs
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  • SBI consolidated net loss at Rs 1,887 cr in Oct-Dec 2017 quarter as higher bad loan provisioning weighs

SBI consolidated net loss at Rs 1,887 cr in Oct-Dec 2017 quarter as higher bad loan provisioning weighs

Press Trust of India • February 9, 2018, 19:42:59 IST
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In absolute or gross terms, SBI, at the standalone level had Rs 1,99,141.43 crore of its assets as non-performing, up from Rs 1,08,172.32 crore in the comparable period in 2016

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SBI consolidated net loss at Rs 1,887 cr in Oct-Dec 2017 quarter as higher bad loan provisioning weighs

Mumbai: The SBI Group on Friday reported a massive Rs 1,886.57 crore net loss for the December quarter of current fiscal as its bad loans and provisions spiked. It had, in contrast, reported net profit of Rs 2,152.14 crore for the October-December quarter of the last fiscal, 2016-17. The nation’s largest lender saw its net bad loans ratio spiking to 5.61 percent of advances, from 4.24 percent during the third quarter of 2017-18. [caption id=“attachment_4109771” align=“alignleft” width=“380”]Representational image. Reuters. Representational image. Reuters.[/caption] The gross dud assets ratio jumped meanwhile from 7.23 percent to cross the double digits mark at 10.35 percent during the quarter under review. In absolute or gross terms, the bank at the standalone level had Rs 1,99,141.43 crore of its assets as non-performing, up from Rs 1,08,172.32 crore in the comparable period in 2016. Similarly, its net non-performing assets almost doubled to Rs 102,370.12 crore, up from Rs 61,430.45 crore, State Bank of India said in an exchange filing. The bank saw its non-interest income decline by 29.75 percent, from Rs 11,507 crore to Rs 8,084 crore, as net interest income plunged due to mark-to-market losses from its treasury operations. Similarly, non-fee income fell 18.38 percent from Rs 14,401 crore to Rs 11,755 crore. Fee income rose from Rs 4,710 crore to Rs 4,979 crore – a growth of 5.71 percent. ![Q3-FY18 - SBI consolidated financials](https://images.firstpost.com/wp-content/uploads/2018/02/Q3-FY18-SBI-consolidated-financials1.jpg)

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State Bank of India NPAs bad loans Q3 Gross NPAs provisions sbi earnings SBI net loss Oct Dec 2017 quarter
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