Comments
PSU Bank index fell nearly 1 per cent today after the largest public sector bank SBI reported about Rs 12,000 crore divergence in their non-performing assets (NPA) for the fiscal 2018-19.
At 12.25 pm, State Bank of India stock was down 0.45 per cent at Rs 312.05 on the NSE.
The Nifty PSU Bank index declined 16.55 points or 0.68% to 2,402.25 on the NSE.
Allahabad Bank, J&K Bank, Central Bank of India, Union Bank, Syndicate Bank, PNB, Indian Bank, Oriental Bank of Commerce, Bank of India and Bank of Baroda were down between 1 and 3.50 per cent.
SBI's gross NPA was Rs 11,932 crore more at Rs 1,84,682 against Rs 1,72,750 reported for 2018-19, SBI said in a regulatory filing.
As a result, the bank has to make additional provisioning of Rs 12,036 crore in the balance sheet and the notional loss would have been at Rs 6,968 crore.
SBI had posted a profit of Rs 862 crore for 2018-19 in May this year.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.