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SBI posts net loss of Rs2,416 crore in third quarter
February 10, 2018
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Mumbai: India’s largest bank, State Bank of India (SBI), on Friday said it closed the third quarter of the current fiscal with a net loss of Rs2,416.37 crore.

In a regulatory filing to the BSE, the bank said it had posted a net loss of Rs2,416.37 crore for the quarter ended on December 31 as against a net profit of Rs2,610 crore posted during the corresponding period the previous year.

For the quarter ended on Dec.31, 2017, SBI had earned a total income of Rs 62,887.06 crore, up from Rs53,587.51 crore in the quarter ended on Dec.31, 2016. During the quarter under review, the provisions shot up to Rs18,876.21 crore, from Rs8,942.83 crore in the previous corresponding period.

Indo-Asian News Service

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