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.
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 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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