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State Bank of India Posts Q4 Net Loss of Rs 7,718 Crore on Account of NPAs

Total income during the January-March quarter was up at Rs 68,436.06 crore, from Rs 57,720.07 crore in the same period a year earlier, the bank said in a regulatory filing.

PTI

Updated:May 22, 2018, 3:41 PM IST
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State Bank of India Posts Q4 Net Loss of Rs 7,718 Crore on Account of NPAs
The State Bank of India, the country’s largest lender, alone accounted for nearly Rs 2.23 lakh crore of the total gross NPAs in 2018.
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New Delhi: The country's largest lender SBI on Tuesday posted a standalone net loss of Rs 7,718.17 crore for the March quarter due to higher non-performing assets (NPAs).

The bank 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.

Total income during the January-March quarter was up at Rs 68,436.06 crore, from Rs 57,720.07 crore in the same period a year earlier, the bank said in a regulatory filing.

Gross NPAs, as a percentage of gross loans, jumped to 10.91 per cent from 6.90 per cent at March-end 2017.

Net NPAs rose to 5.73 per cent of the net advances compared to 3.71 per cent last year.

Stock of SBI was trading 5.2 per cent up at Rs 257.85 on BSE in afternoon trade.

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