MUMBAI: The State Bank of India has posted a profit of ₹838.40 crore for the fourth quarter, missing analysts’ estimates after making hefty provisions to pare bad debt. The lender said that it has made 90% provisions against all National Company Law Tribunal, or NCLT, cases to avoid any future shocks. Non-interest income was at ₹12,685.12 crore, compared with ₹12,494.78 crore during the period under consideration. The bank said that it is looking to list two of its subsidiaries–SBI Card and SBI General–in the current fiscal year. SBI opted to go for a clean-up (and thereby strengthening) of the balance sheet this Q4 and, thus, the trend of declining incremental slippages ratio, improving PCR are further positives, and explain the higher-than-expected provisions cost.

Source: Mint May 10, 2019 17:48 UTC