SBI’s gross NPAs surged 85.21% to Rs1.88 trillion at the end of the June quarter from Rs1.01 trillion in the same quarter last year. Photo: Pradeep Gaur/MintMumbai: State Bank of India, India’s biggest lender by asset, on Friday reported 20.45% decline in its net profit for the June quarter as bad loans surged. Net profit for the quarter was reported at Rs2,005.53 crore as compared to Rs2,520.96 crore a year ago. Net NPAs rose to 5.97% in the June quarter compared to 3.71% in the previous quarter and 4.05% in the same quarter last year. Gross NPAs surged 85.21% to Rs1.88 trillion at the end of the June quarter from Rs1.01 trillion in the same quarter last year.

Source: Mint August 11, 2017 08:02 UTC