Mumbai, Feb 14: The country’s largest loaner state bank of India (SBI) Friday reported 34 % slump in its net for the third quarter of this financial year.
The bank denote a net of Rs.2,234.34 crore for the quarter complete Dec 31, 2013 as compared to Rs.3,396.06 crore denote within the corresponding quarter of last year, registering a decline of 34.20 percent.
SBI’s non-performing loans or bad loan as proportion of total assets rose to 5.7 % during the quarter below review as compared to 5.6 % denote within the previous quarter.
The rise in unhealthy loans has affected the bank’s profit. this is often fourth consecutive quarters of call SBI’s net.
The bank’s Total income has increased from Rs. 339921.10 million for the quarter complete December 31, 2012 to Rs. 390607.60 million for the quarter complete December 31, 2013.
The share value of SBI fell by 1.64 % to Rs.1475.10 at the Mumbai stock exchange (BSE) Fri.
