MARKET EYE-SBI gains; StanChart says bank to revise debt numbers

Mon Nov 12, 2012 12:58pm IST

Related Topics

Stocks

   

* Shares of State Bank of India rise as much as 1.5
percent after Standard Chartered Bank says SBI over-estimated
its gross slippage for the July-September quarter, according to
an email sent to clients. 
* Gross slippages at the bank should be at 71 billion rupees
($1.30 billion), in line with expectations and management
guidance, StanChart said in its email.
* StanChart added SBI was updating its numbers from Friday's
July-September results and would clarify this at an investor
conference call later in the day.
* On Friday, SBI said gross slippages were at 85 billion rupees,
as part of quarterly results that showed its smallest profit
increase this year, which sent shares down 3.9 percent. 
 
* Net slippages and gross and net non-performing loans remain
unchanged, Standard Chartered said.
* Senior executives at SBI were not immediately reachable.
* SBI shares were up 0.7 percent as of 0727 GMT.
($1 = 54.7550 Indian rupees)

 (swati.pandey@thomsonreuters.com)
FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Earnings Season

Earnings Season

Reliance Q4 sales rise, refining margin narrows.  Read 

Literary Giant Dies

Literary Giant Dies

Nobel winner Garcia Marquez, master of magical realism, dies at 87.  Full Article 

Election 2014

Election 2014

India holds biggest day of voting with BJP gaining strength  Full Article | Full Coverage 

Insider Trading

Insider Trading

Ex-Goldman director Gupta starts prison term on June 17.  Full Article 

Market Eye

Market Eye

Sensex jumps 351 points, snaps 3-day losing streak  Full Article 

Expansion Plans

Expansion Plans

Reliance Industries, HPCL Mittal plan refinery expansions.  Full Article 

S&P on India

S&P on India

S&P: India's ratings to depend on next govt econ, fiscal policies.  Full Article 

Ambitious Aim

Ambitious Aim

In green car race, Toyota adds muscle with fuel-cell launch.  Full Article 

Bond Market

Bond Market

A star abroad, RBI boss riles bond traders at home  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage