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Top lender SBI eyes return to profitability in Q3 on easing bad loan impact

In the last quarter, SBI accounted for net mark to market losses on investments of Rs 58.93 billion

Reuters  |  New Delhi/Bengaluru 

State Bank of India is confident of returning to profitability from the December quarter onwards as the impact of bad loans eases, its chairman said after the nation's top lender by assets plunged to its third straight quarter of losses. India's banks have been plagued by a surge in non-performing loans which hit a record $150 billion at the end of March. Twenty-one lenders led by SBI, in which the Indian government owns a majority stake, accounted for 86 per cent of the pile. SBI's gross non-performing loans eased quarter on quarter to Rs 2.13 trillion ($30.8 ...

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First Published: Fri, August 10 2018. 20:31 IST