SBI posts Rs 24.16 billion quarterly loss for first time in nearly 19 years

Posted on:10 Feb 2018 09:57:01
SBI posts Rs 24.16 billion quarterly loss for first time in nearly 19 years
10 February 2018 Current Affairs: State Bank of India (SBI), the country’s largest bank, posted a quarterly loss for the first time in nearly 19 years - of Rs 24.16 billion in the December quarter of 2017-18 - owing to a sizeable increase in provisioning for bad loans.

This came after the Reserve Bank of India (RBI) asked the lender to reclassify some corporate loans as non-performing assets (NPAs).

The bank had reported a standalone profit of Rs. 2,610 crore in the corresponding quarter last fiscal.

SBI is planning to raise about Rs 200 billion in the next financial year (2018-19) to support credit growth.
State Bank of India (SBI), the country’s largest bank, posted a quarterly loss for the first time in nearly 19 years - of Rs 24.16 billion in the December quarter of 2017-18 - owing to a sizeable increase in provisioning for bad loans.

This came after the Reserve Bank of India (RBI) asked the lender to reclassify some corporate loans as non-performing assets (NPAs).

The bank had reported a standalone profit of Rs. 2,610 crore in the corresponding quarter last fiscal.

SBI is planning to raise about Rs 200 billion in the next financial year (2018-19) to support credit growth.

Daily Current Affairs Videos Video Link
25th March 2019 Current Affairs Video
23rd March 2019 Current Affairs Video
22nd March 2019 Current Affairs Video
21st March 2019 Current Affairs Video
20th March 2019 Current Affairs Video
Watch more Current Affairs Videos

Monthly Current Affairs

Fresherslive telegram Group

Current Affairs Section

Daily Current Affairs Quiz


Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs Weekly PDF

Current Affairs Monthly PDF

Current Affairs Quiz

Current Affairs Monthly PDF Hindi

Currentt Affairs 2019 March

25 MARCH
NEWS
24 MARCH
NEWS
23 MARCH
NEWS
22 MARCH
NEWS

Currentt Affairs 2019 February

28 FEBRUARY
NEWS
27 FEBRUARY
NEWS
26 FEBRUARY
NEWS
25 FEBRUARY
NEWS

Currentt Affairs 2019 January

31 JANUARY
NEWS
30 JANUARY
NEWS
29 JANUARY
NEWS
28 JANUARY
NEWS