News Roll
Heavy Losses, Yet Share Prices Soar
The State Bank of India, which reported poor quarterly results in May,
expects to improve margins and turnaround in the next two years
T
he State Bank of India
(SBI) reported its biggest
ever losses at ` 7,718 crore
for the January-March
quarter, as the country’s prime
lender set aside more provisions for
bad loans, in line with changes in
banking regulations. This was the
second highest quarterly loss
reported by any public sector bank,
after Punjab National Bank
registered a loss of `13,417 crore in
the aftermath of the Nirav Modi
fraud case.
14
SBI: On an Unhappy Note
Q4
FY18 Q3
FY18 Q2
FY18 Q1
FY18
Loss- 7,718 Loss- 2,416 Profit-1,582 Profit-2,006
Operating Profit 15,883 11,755 14,563 11,874
Net Interest Income 19,974 18,688 18,586 17,606
Non Interst Income 12,495 8,084 16,016 8,006
Quarterly Results
Net Loss/Profit
Source: State Bank of India (Figures in ` / crore)
Outlook Money June 2018 www.outlookmoney.com