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MARKET EYE-SBI gains; StanChart says bank to revise debt numbers
November 12, 2012 / 7:28 AM / 5 years ago

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

* 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)


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