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SBI swings to Q2 profit, shows improvement in bad loans


REUTERS - State Bank of India (SBI), the nation's biggest lender by assets, reported a second-quarter profit compared with a loss year ago, and a sequential improvement in its bad-loan ratio, sending its shares higher.Net profit came in at 15.82 billion rupees ($243.25 million) for the quarter ended Sept 30, lower than analysts' estimates of 26.96 billion rupees, but compared with a net loss of 5.57 billion rupees a year earlier.Bank of India, the market's sixth-biggest lender by assets, reported a 41 percent jump in second-quarter net profit on Friday, handily beating analysts' estimates, as ...

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First Published: Fri, November 10 2017. 14:03 IST