SBI Q3 net rises 4 percent, bad loans weigh

SBI's standalone non-performing loan ratio of 2.59 percent of assets for the quarter compares with 2.2 percent a year earlier.

hidden February 14, 2013 13:11:02 IST
SBI Q3 net rises 4 percent, bad loans weigh

Mumbai: State Bank of India, the country's biggest lender, reported a 4 percent gain in quarterly net profit, the smallest increase in more than a year, as higher provisions for bad loans and slower loan demand hurt growth.

SBI Q3 net rises 4 percent bad loans weigh

SBI chief Pratip Chaudhuri. PTI

Standalone net profit rose to Rs 3,396 crore for the quarter ended December from Rs 3,260 crore a year earlier, the bank said on Thursday.

Analysts, on average, had expected a net profit of Rs 3,696 crore, according to Thomson Reuters.

SBI's standalone non-performing loan ratio of 2.59 percent of assets for the quarter compares with 2.2 percent a year earlier.

Reuters

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