SBI rises to over five-month high on Q2 asset quality

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Reuters
Last Updated : Nov 14 2014 | 3:26 PM IST

Reuters Market Eye - State Bank of India extends gains, up 3 pct, marking highest intraday level since May 26.

Better-than-expected asset quality in Q2 helps, say traders.

Fresh slippages at 77 billion rupees ($1.25 billion) compared with 99.32 bln in Q1, the company says.

Also, fresh restructuring at 34.5 bln rupees compared with 57.02 bln rupees in Q1, the company says.

Lender reported a 30.5 pct increase in profit, but lagged estimates as provisions for bad loans increased.

(1 US dollar = 61.6400 rupees)

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(Reporting by Abhishek Vishnoi)

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First Published: Nov 14 2014 | 3:10 PM IST

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