SBI swings into the red in Q3 at Rs 24.16 bn; NPAs rise 84% to Rs 2 trn

The bank reported a rise in gross NPAs at 10.35% as against 9.83% in the previous quarter ended September.

The SBI Group on Friday reported a massive Rs 18.8657 billion (Rs 1,886.57 crore) net loss for the December quarter of current fiscal as its bad loans and provisions spiked.

It had, in contrast, reported net profit of Rs 21.5214 billion for the October-December quarter of the last fiscal, 2016-17.

The nation's largest lender saw its net bad loans ratio spiking to 5.61 per cent of advances, from 4.24 per cent during the third quarter of 2017-18.

The gross dud assets ratio jumped meanwhile from 7.23 per cent to cross the double digits mark at 10.35 per cent during the