SBI Q4 net loss touches Rs. 7718cr on higher NPAs
The country's largest lender State Bank of India today posted a standalone net loss of Rs 7,718.17 crore for the March quarter due to higher non-performing assets (NPAs). SBI had reported a net profit of Rs 2,814.82 crore in the corresponding period of 2016-17. Sequentially, the loss widened from Rs 2,416.37 crore in the third quarter ended December 2017.
Net NPA jumped to 5.73% from 3.71% last year
Total income during the January-March quarter was up at Rs. 68,436.06 crore from Rs. 57,720.07 crore last year. Gross NPAs, as a percentage of gross loans, jumped to 10.91% from 6.90% at March-end 2017. Net NPAs rose to 5.73% of the net advances compared to 3.71% last year. Stock of SBI was trading 5.2% at Rs. 257.85 on BSE in afternoon trade
