SBI net profit slides 35%

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SBI BANK
Bad loans continued to haunt State Bank of India, with stressed loans jumping 86 per cent year-on-year to ₹1,05,783 crore in the July-September quarter 2016 from ₹56,834 crore in the year ago quarter.
With bad loan provisions nearly doubling, the bank’s net profit fell 35 percent to ₹2,538 crore in the July-September quarter 2016 (Q1FY17) from ₹3,879 crore in Q1FY16.
Arundhati Bhattacharya, Chairman, said, “The areas where obviously we have concerns are the gross non-performing assets (GNPAs) and net non-performing assets (NNPAs). But there again I would like to say that actually the increase has not been much.
“The percentages look very much larger only because the denominator (loan book) has not increased as much as it had increased say year-on-year in the last quarter. So, because of the low growth of the denominator, the percentages look bigger.”
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