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State Bank of India first-quarter profit misses estimates, bad loans rise

Reuters 

REUTERS - State Bank of India (SBI), the nation's biggest lender by assets, on Friday reported first-quarter profit that missed analysts' estimates, following a decline in net interest income and rise in bad loans.The results are the first since SBI merged with five of its subsidiary banks and also took over a niche lender for women from April 1.For the merged entity, net profit was 20.06 billion rupees ($312.84 million) in the three months through June, from 3.74 billion rupees a year earlier. Pre-merger, the bank's year-earlier profit was 25.21 billion rupees.The result compared with the ...

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First Published: Fri, August 11 2017. 14:16 IST
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