SBI stock closes 2.67% lower as bad loans rise in Q3
At 9:15 am, the stock was trading 2.83% lower at Rs 288 on BSE. The stock is up 3.6% or 9.9 points during the last one year.
- Feb 12, 2018,
- Updated Feb 12, 2018 4:37 PM IST
The State Bank of India stock closed lower after the lender reported a massive Rs 2,416.37 crore net loss for the December quarter of current fiscal as its bad loans and provisions spiked.
At 9:15 am, the stock was trading 2.83% lower at Rs 288 on BSE.
The stock closed 2.67% or 7.90 points lower at 288 level on BSE. The stock is up 3.6% or 9.9 points during the last one year.
The lender, in contrast, reported net profit of Rs 2,610 crore for the October-December quarter of the last fiscal, 2016-17.
The nation's largest lender saw its net bad loans ratio spiking to 5.61 per cent of advances, from 4.24 per cent during the third quarter of 2017-18.
The gross dud assets ratio jumped meanwhile from 7.23 per cent to cross the double digits mark at 10.35 per cent during the quarter under review.
With PTI inputs
The State Bank of India stock closed lower after the lender reported a massive Rs 2,416.37 crore net loss for the December quarter of current fiscal as its bad loans and provisions spiked.
At 9:15 am, the stock was trading 2.83% lower at Rs 288 on BSE.
The stock closed 2.67% or 7.90 points lower at 288 level on BSE. The stock is up 3.6% or 9.9 points during the last one year.
The lender, in contrast, reported net profit of Rs 2,610 crore for the October-December quarter of the last fiscal, 2016-17.
The nation's largest lender saw its net bad loans ratio spiking to 5.61 per cent of advances, from 4.24 per cent during the third quarter of 2017-18.
The gross dud assets ratio jumped meanwhile from 7.23 per cent to cross the double digits mark at 10.35 per cent during the quarter under review.
With PTI inputs