The SBI Group on Friday reported a massive Rs. 1,886.57 crore net loss for the December quarter of current fiscal as its bad loans and provisions spiked.
It had, in contrast, reported net profit of Rs. 2,152.14 crore for the October-December quarter of the last fiscal, 2016-17.
The nation’s largest lender saw its net bad loans ratio spiking to 5.61 per cent of advances, from 4.24 per cent during the third quarter of 2017-18.
The gross dud assets ratio jumped meanwhile from 7.23 per cent to cross the double digits mark at 10.35 per cent during the quarter under review.
In absolute or gross terms, the bank at the standalone level had Rs. 1,99,141.43 crore of its assets as non- performing, up from Rs. 1,08,172.32 crore in the comparable period in 2016.
Similarly, its net non-performing assets almost doubled to Rs. 102,370.12 crore, up from Rs. 61,430.45 crore, State Bank of India said in an exchange filing.
The bank saw its non-interest income decline by 29.75 per cent, from Rs. 11,507 crore to Rs. 8,084 crore, as net interest income plunged due to mark-to-market losses from its treasury operations.
Similarly, non-fee income fell 18.38 per cent from Rs. 14,401 crore to Rs. 11,755 crore.
Fee income rose from Rs. 4,710 crore to Rs. 4,979 crore — a growth of 5.71 per cent.
