SBI gains; StanChart says bank to revise debt numbers

Mon Nov 12, 2012 1:34pm IST

People walk in front of a signboard displayed at the head office of State Bank of India in Mumbai November 9, 2009. REUTERS/Arko Datta/Files

People walk in front of a signboard displayed at the head office of State Bank of India in Mumbai November 9, 2009.

Credit: Reuters/Arko Datta/Files

Related Topics

Stocks

   

Reuters Market Eye - Shares of State Bank of India(SBI.NS) 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, 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 12:57 p.m.

FILED UNDER:

REUTERS SHOWCASE

WTO Trade Deal

WTO Trade Deal

WTO clinches first global trade deal in its history  Full Article 

Kashmir Attack

Kashmir Attack

Ten dead in Kashmir's worst militant attack in more than a year  Read 

OPEC Meeting

OPEC Meeting

Saudis block OPEC output cut, oil price sinks further.  Full Article 

GDP, RBI Preview

GDP, RBI Preview

GDP growth set to weaken, business wants reforms more than rate cut  Full Article | Related Story 

Social Media

Social Media

Twitter to start tracking users' mobile apps  Full Article 

Jaitley to Rajan

Jaitley to Rajan

Jaitley likely to meet Rajan on Monday to urge rate cut  Full Article 

Banking Sector

Banking Sector

India moves to allow more businesses to offer basic financial services.  Full Article 

Forever21 in India

Forever21 in India

Forever21 sets sights on Indian cities, but please hold the hot pants  Full Article 

Japan Economy

Japan Economy

Japan inflation slows in October, output and spending show signs of recovery  Full Article 

Reuters India Mobile

Reuters India Mobile

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