SBI loses 7718 crores in fourth quarter
In the same period last fiscal, the country's largest bank had earned a net profit of Rs 2814.82 crore.
New Delhi: State Bank of India (SBI) has a net loss of Rs 7718.17 crore in the fourth quarter of the last financial year. Due to higher provision of losses for the loans trapped in recovery (NPA), the deficit is high.
In the same period last fiscal, the country's largest bank had earned a net profit of Rs 2814.82 crore. In the third quarter ended December, 2017, the bank had a loss of Rs. 2416.37 crores.
The bank said today that the total income increased to Rs 68,436.06 crore in the January-March quarter, from Rs 57,720.07 crore in the corresponding quarter of the previous fiscal.
In this period, the gross NPA of the bank increased to 10.91% of the loan, which was 6.90% in the same quarter of the previous financial year. Meanwhile, the net NPA of the bank rose to 5.73 per cent, which was 3.71 per cent in the same quarter a year ago.
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