Standalone net loss of Rs 4,876 crore for the quarter of june has been reported by the largest domestic lender of the country, state bank of india (SBI). Notably, this is often the third consecutive quarter where SBI reported the loss in terms of assets.
The first lost by the bank was reported of Rs 2,416 crore in the december quarter of financial Year 2018 whereas in the March quarter the loss was reported to be Rs 7,718 crore. It ought to be noted that the PSU bank reported the profit of Rs 2005 crore in the March quarter in the year-ago amount.
The provisions and contingencies reported by the bank for the june quarter is of Rs 19,228 crore that is sort of double as compared to Rs 8,929 crore in the year-ago quarter whereas constant was reported to be Rs 28,096 crore in March quarter.
The net interest income (NII) for the bank for june quarter stood at Rs 21,798 crore that was Rs 17,606 crore last year. it had been expected that the NII are around Rs 20,426 crore during a poll conducted by ETNow. The bank recorded a rise of 7.1 per cent in the interest earned for the quarter. it had been recorded to be Rs fifty eight,813 large integer as compared to Rs 54,905 crore from last year.
There is a marginal decline in the gross non-performing assets as they went to 10.69 per cent for the Gregorian calendar month quarter as compared to ten.91 per cent in March quarter. The gross non-performing assets were recorded to be 9.97 per cent in the june quarter of last year.
The SBI wise to during a bse filing that provisions made by the SBI towards the arrears of wages because of revision with effect from november 1, 2017, until june thirty-nine, 2018, were recorded to be Rs 2,655 crore that was Rs 1,659 crore until March 31.
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