Business/Economy

SBI Posts Rs 2,416 Crore loss in Q3

SBI Posts Rs 2,416 Crore loss in Q3

The country’s largest lender State Bank of India has come up with shocking news for shareholders and banking analysts on Friday and it brought all the financial transactions to an end. It shocked the street by announcing a huge quarterly loss i.e. the loss of Rs. 2,416.37 crore. 


It has broken the back of spike which resulted in the disagreements related to bad loan and hardening of earnings from bonds which led to a capital loss.
 

State Bank of India has earned the total income of Rs 62,887.06 crore, up from Rs 53, 5851 crores in the quarter ended on December 31, 2016.SBI faced a Gross bad loan as a percentage of total loans stood at 10.35% at end-December, compared with 9.83% in the previous quarter.