SBI net profit falls, but asset quality improves

SBI Q2 profit slumps 38% YoY to Rs 1,582 crore as provisions more than double

"Almost the entire list will go to the NCLT".

SBI said credit growth continued to be muted in Q2.

The bank's scrip jumped over 6 per cent to close at Rs 333, buoyed by news that bad loan accumulation had slowed.

"The idea for increased provisions is to enhance our loss absorption capacity". "Given that we would like to see corporates deleverage, it is only natural that their borrowings come down", said Kumar.

The state-owned lender reported a net profit of Rs 1,581.5 crore in the second quarter against Rs 2,538.3 crore in the corresponding quarter past year. The country's biggest lender had registered a profit after tax of Rs 2,006 crore in the corresponding period of the last fiscal.

George Takei says events in sexual assault allegation 'simply did not occur'
After Takei failed to persuade him to accept the attention, he said, he left the condo and drove home. Takei continued to add that these sorts of acts are "so antithetical to my values and my practices".

State-owned Allahabad Bank today posted a 7.9 per cent rise in net profit at Rs 70.20 crore for the September quarter despite rise in non-performing assets (NPAs). "If you look at our operating income, the story is very strong".

Its capital adequacy ratio (CAR) stood at 13.56 per cent with tier-I of 10.96 per cent at the end of September 2017. "The effort will be to strengthen it further", he added. The bank's asset quality, however, improved during the July-September quarter as fresh slippages declined by more than half. Total slippages as a ratio of the loan book declined to 1.85 percent from 5.37 percent sequentially.

Analysts on average had expected a net profit of Rs2,696 crore, according to Thomson Reuters data. However, on a sequential basis, gross NPAs and net NPAs improved a bit to 9.97 per cent and 5.97 per cent, respectively. "My total market cap is Rs 2.8 lakh crore just because of corporate NPAs, which is a small part of my business". Kumar said with worldwide reporting norms on the anvil, the bank was making provisions closer to expected losses (on bad loans) than actual loans.

While announcing the result, SBI Chairman Rajnish Kumar said gross slippages for the quarter stood at Rs 10,627 crore.

Related News:

  • Biden may be preparing for 2020 presidential run

    Biden may be preparing for 2020 presidential run

    And during a Chicago speech, he warned that the United States is "walking down a dark path" under Trump , calling him a "charlatan".
    Japanese PM Takes Nasty Fall While Golfing With Trump

    Japanese PM Takes Nasty Fall While Golfing With Trump

    In the video, Abe, who can be seen wearing a white sweater, apparently lost his balance and rolled backward in the sandy hole. Abe also called Trump his "dear friend" and hailed the benefits of what he called "golf diplomacy".

    Argentina deny Russian Federation victory as renovated World Cup Final venue opens

    Aguero joined Hernan Crespo in third on the list of Argentina's all-time highest goalscorers with his effort, and Sampaoli was impressed with what he saw.
  • Oops: Self-Driving Bus Crashes Two Hours After Vegas Launch

    Oops: Self-Driving Bus Crashes Two Hours After Vegas Launch

    Jenny Wong, a passenger on the shuttle at the time of the crash, told local news station KSNV: "The shuttle just stayed still". The Tesla Model S, which was steering itself, slammed into the side of a truck in Florida in 2016, killing the driver.
    General Electric signs $3.5 bln deals in China

    General Electric signs $3.5 bln deals in China

    China Aviation Supplies played prominent roles in deals that were announced during the exchanges of previous governments. Boeing had 334 orders by unidentified customers as of October 24, of which 290 were for its 737 narrow body family.
    Disneyland shuts down 2 cooling towers after Legionnaires' disease cases

    Disneyland shuts down 2 cooling towers after Legionnaires' disease cases

    It becomes problematic when it is in large quantities, typically due to stagnant or improperly sanitized spas and water systems. It is treated with antibiotics and hospital care, but one in 10 of those who contract the disease dies from infection.
  • Air traffic controller charged with having weapon of mass destruction in Charlotte

    Air traffic controller charged with having weapon of mass destruction in Charlotte

    WNCN reports that the FAA has suspended Dandan's access to the airport while the FAA and the FBI are investigating the case. The investigation led police to another man, Derrick Fells, 39, who, they say, created the device.
    Millennium Falcon spotted under wraps on Google maps

    Millennium Falcon spotted under wraps on Google maps

    With the help of Google Earth images, eagle-eyed sleuths have found where the Millenium Falcon is parked . The find comes with just over a month until the latest instalment of Star Wars .

    Real Madrid's Gareth Bale suffers another injury setback

    Indeed, including Bale's bumper salary, AS believe his 159 games for the club have cost Madrid 1.06 million euros a match. Madrid's next match is a tough visit to crosstown rival Atletico Madrid on November 18 after the global break.
  • Duterte to press Xi on arms buildup in South China Sea

    Duterte to press Xi on arms buildup in South China Sea

    Brunei, Malaysia, the Philippines, Taiwan and Vietnam also have conflicting claims there. China claims a large portion of the South China Sea through its nine-dash line claim.
    You should absolutely be anxious  about the AT&T Time Warner deal

    You should absolutely be anxious about the AT&T Time Warner deal

    It's clear that the government needs to put a stop to this merger, but the big question now is whether or not it actually will. AT&T and Time Warner can walk away if the deal's not closed by April 22.
    Honor our veterans today and every day

    Honor our veterans today and every day

    Help by supporting local veterans organizations, which provide tremendous support for and advocacy on behalf of veterans. A visit to the Fallon County Veterans Memorial in the city park is another way to acknowledge Veterans Day.


Most liked

USDA lowers 2018 wheat, soybean carryover from October
Corn and soybean futures rebounded on Friday as traders absorbed a government report projecting larger-than-expected harvests. But an estimated 2.14 million acres will be run through the combines in 2017-breaking the previous record set past year .

Stephens boosts USA in final against Belarus
Friday's draw ceremony was presented with a nod to traditional Belarusian culture. On Sunday Vandeweghe will face Sabalenka, then Stephens will play Sasnovich.

Drone from Syria approaches Israel, intercepted by Patriot missile
Once the Russians claimed that they were not now operating a UAV in the area, the IDF chose to intercept the aircraft. The drone was apparently a Syrian army drone on an intelligence collection mission, the IDF said.

Bentley Continental GT3 racer launched
The new vehicle leaves no area or system untouched in the search for even better performance, and the early tests are promising. This is also the first time Bentley's GT3-spec cars will participate in the Intercontinental GT Challenge.

Flipkart Introduces Its Billion Capture+ Smartphone With Dual-Cameras
On the battery front, the smartphone by Flipkart is backed by a 3500mAh battery, which is rated to deliver up to 2 days of life. There's also a fingerprint scanner at the back and comes running Stock Android Nougat 7.1.2 to complete the package.

Hasbro Mattel Takeover Rumors Swirling - Optimus Prime, Barbie to Finally Wed?
Both toymakers have been struggling with waning demand and the recent bankruptcy of Toys'R'Us, a major outlet for toy sales. And it maintains a strong relationship with Hollywood - Hasbro also makes toys for successful Disney franchises.

Rutgers vs. Penn State 11/11/17
The Penn State defense stood strong enough and stopped the Scarlet Knights at the eight-yard line and allowed only a field goal. Tight end Jerome Washington's rush attempt was shut down by Jason Cabinda, who was in on Penn State's punt-safe defensive set.

Paul Pogba trains with United reserves as he continues recovery
Defeat at Chelsea has seen the gap between themselves and Manchester City at the top of the Premier League widen to eight points. But Pogba has remained at Carrington in a bid to return in time to feature against Newcastle at Old Trafford on November 18.

Bengals' Green fined $42541 for fight with Jaguars' Ramsey
It culminated with Green shoving Ramsey lightly after a play, and the young cornerback responded by shoving Green to the turf. Ramsey said. "He was like, 'To be honest, Jalen, I don't know.' That's exactly what he said, quote for quote".

Saudi easing of Yemen blockade not enough
Air strikes by the Saudi-led coalition left at least three civilians wounded in Yemen's rebel-held capital Sanaa, witnesses said. It is noted that the strikes were aimed at the Ministry of defense of Yemen.

Farooq Abdullah says independent Kashmir not an option
"That part will remain with Pakistan and this part will remain with India, and both Kashmirs should be granted autonomy". This is not only a negative approach but sets a risky precedence where the facts are deliberately being muzzled".

Owners Report Pixel 2 / XL Google Assistant Bluetooth Bug
If you haven't ordered the Pixel Buds and think you might want to, you can head over the Google Store and pick them up for $159. Some users have pointed that the screen flashing on the Pixel 2 XL doesn't happen every time but does occur frequently.

Louis CK's TV wife speaks out about his 'abhorrent' behavior
But in interviews, Adlon said she saw it differently, and thought that her character went along with the kiss. The comedian confessed to exposing himself to five women and apologized to them and the people he works with.

Lewis Hamilton lashes out at F1 management after robbery in Brazil
Vettel, who is 15 points ahead of third-placed Bottas in the title race, admitted he did not commit fully to his lap. This is not the first time that such an incident has transpired.

Transfer Rumour: Crystal Palace eyeing shock move for Arsenal midfielder Jack Wilshere
The 25-year-old has been predominantly used as a number 10 by Wenger, but Southgate said he saw his best position as a deep-lying playmaker.