mangalore today

State Bank of India posts surprise loss in third quarter

Mangalore Today News Network

Mangaluru, Feb 09, 2018 : State Bank of India, (SBI) the nation’s biggest lender by assets, reported a surprise loss of Rs 24.16 billion ($375.10 million) for the three months ended December.


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Analysts on average had expected a profit of Rs 20.67 billion, Thomson Reuters Eikon data showed.

Gross bad loans as a percentage of total loans stood at 10.35 percent at end-December, compared with 9.83 percent in the previous quarter.