SBI reported a Q2 net profit of 15.82 billion rupees missing estimates, on higher provisions for bad loans.
State Bank of India is largest public sector lender.
State Bank of India, the nation’s biggest lender by assets, reported a second-quarter net profit of 15.82 billion rupees ($243.3 million), missing estimates, on higher provisions for bad loans.
Analysts on average had expected a net profit of 26.96 billion rupees, according to Thomson Reuters data.
Gross bad loans as a percentage of total loans stood at 9.83 per cent at end-September compared with 9.97 per cent at end-June.
( Source : reuters )
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