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:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Diplomacy

REUTERS SHOWCASE

Maruti Results

Maruti Results

Maruti Suzuki says profits helped by sentiment, not growth.  Full Article 

Tracking the Monsoon

Tracking the Monsoon

Monsoon turns patchy after revival.  Full Article 

ICICI Profit Up

ICICI Profit Up

ICICI Bank Q1 net profit up 17 percent, beats estimates.  Full Article 

Pharma Sector

Pharma Sector

FDA raises concern over drug production process at Cadila  Full Article 

Coal India

Coal India

Some Coal India mines may be run by foreign firms - minister  Full Article 

Fuel Prices

Fuel Prices

IOC to cut petrol prices by 1.5 pct from Friday  Read 

Economic Pulse

Economic Pulse

India's infrastructure output growth hits 9-month high in June  Full Article | Related Story 

Joint Bid

Joint Bid

ONGC, Oil India bid $1.5 bln for stake in Murphy Oil's Malaysia assets - sources  Full Article 

Reuters India Mobile

Reuters India Mobile

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