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9 February 2018
 |
| SBI
(The Total Investment & Insurance Solutions) |
State Bank of India (SBI) on Friday reported a net loss of Rs 2,416
crore in the quarter ended December 2017. The country's biggest lender in Q2
posted a standalone net profit of Rs 1,581 crore. The Total Investment & Insurance
Solutions
On consolidated basis, the bank posted a net loss Rs 1,886 crore in the third quarter against a net profit of Rs 1,840 crore in Q2.
The bank's bad loans or non-performing assets (NPAs) in Q3 stood at Rs 1.99 lakh crore from Rs 1.86 lakh crore in the previous quarter. The ratio of bad loans jumped to 5.61 per cent of advances from 4.24 per cent.
Bad loans have nearly doubled in the banking sector in the past four years as a prolonged economic slowdown took its toll on the ability of companies to repay debt. The country's 21 state-run banks accounted for the bulk of the Rs 9.46 lakh crore worth of stressed loans as of end-September.
SBI's bad loans have risen also because of its merger with its five subsidiary banks earlier in 2017. The year-ago numbers have been restated after the merger.
The board decided to create, offer and issue equity shares with a face value of Re 1 each by way of preferential allotment in tune to raise Rs 8,800 crore from the government.The Total Investment & Insurance Solutions
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