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PSU banks not out of the woods yet

The snakes and ladders game will continue till the consolidation process is complete

Tamal Bandyopadhyay 

Tamal Bandyopadhyay

State Bank of India (SBI) chairman Rajnish Kumar has every reason to feel happy. The aggressive recovery of bad loans helped India’s largest lender record Rs 5,583 crore net profit last December, its highest ever quarterly profit.

What could make him grin is the improvement in the bank’s quality of assets. Its gross non-performing assets (NPAs) as a percentage of loans dropped to 6.94 per cent, down from 8.71 per cent a year ago and 7.19 per cent in September 2019. After setting aside money to provide for the bad loans, the bank’s net NPAs were 2.65 per cent, down 230 ...

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First Published: Sun, February 16 2020. 21:32 IST
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