 "State Bank of Hyderabad Q3 net loss at Rs 619 crore")
State Bank of Hyderabad (SBH) has reported a net loss of Rs 619.82 crore for the quarter-ended on December 2016 as compared with a net profit of Rs 185 crore in the corresponding quarter previous year.
This is the second consecutive quarter the bank incurred a net loss primarily due to higher provisioning requirement.
The bank's net interest income during the quarter under review has fallen as much as 49% to Rs 613.18 crore from Rs 1,202.83 crore in the corresponding previous quarter.
"The operating profit for the nine-month period ended December 2016 was Rs 2,230.79 crore, though higher loan provision of Rs 4,047 crore have resulted in a net loss of Rs 1,368 crore for the same period," Mani Palvesan, SBH managing director said in a statement.
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