State Bank of India Q2 profit misses estimates
SBI reported a Q2 net profit of 15.82 billion rupees missing estimates, on higher provisions for bad loans.
By : DC Correspondent
Update: 2017-11-10 07:57 GMT
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.