State Bank of India (SBI.NS)
16 Aug 2017
State Bank of India's first-quarter profit fell short of expectations as the nation's top lender by assets saw a spike in bad loans after merging five subsidiary banks with itself, sending its shares more than 5 percent lower.
* Net profit 20.06 bln rupees vs 30.29 bln rupees analyst view
Indian shares fell for a fifth session and ended their worst week in one-and-a-half years after State Bank of India sank following weak June-quarter results, further weakening sentiment in a market reeling under North Korea tensions.
Aug 11 Indian shares fell for a fifth session and ended their worst week in one-and-a-half years after State Bank of India sank following weak June-quarter results, further weakening sentiment in a market reeling under North Korea tensions.
* Exec says considering taking a number of smaller cases to NCLT
* Says agri, sme and retail advances growth expected to stabilise from q2fy18, led by retail segment
* Says Q1 net profit up 436 percent to 20.06 billion rupees for merged entity
Aug 11 State Bank of India, the nation's biggest lender by assets, posted a 20 percent fall in first-quarter profit as provisions for bad loans soared.
* Consensus forecast for June quarter standalone profit was 30.29 billion rupees
* Says committee of directors for capital raising approved to allot AT1 basel III compliant bonds worth up to 20 billion rupees Source text: (http://bit.ly/2vkVoMK) Further company coverage: