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State Bank of India Q4 net profit more than doubles as expected

Reuters  |  MUMBAI 

(Reuters) - of India, the nation's top lender by assets, reported fourth-quarter net profit more than doubled in line with expectations, while its bad loan ratio narrowed from the previous quarter.

Standalone net profit, not including contributions from subsidiaries, jumped to 28.15 billion rupees ($433.44 million) for the three months to March 31 from 12.64 billion rupees a year earlier.

Analysts on average had expected a net profit of 28.33 billion rupees for the lender, according to data compiled by Thomson SBI accounts for more than a fifth of India's total banking assets.

Gross bad loans as a percentage of total loans fell to 6.9 percent in March from 7.23 percent in December.

(Reporting by Devidutta Tripathy; Editing by Randy Fabi)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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State Bank of India Q4 net profit more than doubles as expected

MUMBAI (Reuters) - State Bank of India, the nation's top lender by assets, reported fourth-quarter net profit more than doubled in line with expectations, while its bad loan ratio narrowed from the previous quarter.

(Reuters) - of India, the nation's top lender by assets, reported fourth-quarter net profit more than doubled in line with expectations, while its bad loan ratio narrowed from the previous quarter.

Standalone net profit, not including contributions from subsidiaries, jumped to 28.15 billion rupees ($433.44 million) for the three months to March 31 from 12.64 billion rupees a year earlier.

Analysts on average had expected a net profit of 28.33 billion rupees for the lender, according to data compiled by Thomson SBI accounts for more than a fifth of India's total banking assets.

Gross bad loans as a percentage of total loans fell to 6.9 percent in March from 7.23 percent in December.

(Reporting by Devidutta Tripathy; Editing by Randy Fabi)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

State Bank of India Q4 net profit more than doubles as expected

(Reuters) - of India, the nation's top lender by assets, reported fourth-quarter net profit more than doubled in line with expectations, while its bad loan ratio narrowed from the previous quarter.

Standalone net profit, not including contributions from subsidiaries, jumped to 28.15 billion rupees ($433.44 million) for the three months to March 31 from 12.64 billion rupees a year earlier.

Analysts on average had expected a net profit of 28.33 billion rupees for the lender, according to data compiled by Thomson SBI accounts for more than a fifth of India's total banking assets.

Gross bad loans as a percentage of total loans fell to 6.9 percent in March from 7.23 percent in December.

(Reporting by Devidutta Tripathy; Editing by Randy Fabi)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22