Shares of SBI fall on weak Q3 earnings

The country's largest lender's loss was due to its bad loans and increased provisions

Shares of SBI fall on weak Q3 earnings
SBI had reported a net profit of Rs 2,152.14 crore for the same quarter a year ago. Image source: PTI
Written By: ZeeBiz WebTeam
Updated: Mon, Feb 12, 2018
12:44 pm
ZeeBiz WebDesk
RELATED NEWS
SBI Share Price: Analyst expects buying at Rs 268 with stop-loss of Rs 253 for target of Rs 295/310 SBI Share Price: Analyst expects buying at Rs 268 with stop-loss of Rs 253 for target of Rs 295/310
SBI Share Price: ICICI Securities highlights key pointers - What stock market investors must know SBI Share Price: ICICI Securities highlights key pointers - What stock market investors must know

The shares of State Bank of India (SBI) today fell more than 3% in the morning trade on the bourses after it reported last week a Rs 1,886.57 crore net loss for the December quarter of the current financial year.
 
The country's largest lender's loss was due to its bad loans and increased provisions. It had reported a net profit of Rs 2,152.14 crore for the same quarter a year ago.
 
The company opened at Rs 288 and slumped 3.85% to touch an intra-day low of Rs 285 in morning trade on the BSE.
 
Its net bad loans ratio spiking to 5.61% of advances, from 4.24% during the third quarter.
 
The gross dud assets ratio jumped from 7.23% to 10.35% during the quarter under review.
 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.