India’s largest financial institution SBI studies lower earnings than last calendar year

State Lender of India (SBI)’s new emblem appears on the podium at a press conference following the announcement of SBI’s fourth quarter effects in Kolkata, India, on May 19, 2017. REUTERS/Rupak De Chowdhuri

Mumbai, Aug 6 (Reuters) – Point out Bank of India (SBI.NS), India’s greatest loan company, said on Saturday its initially-quarter net income was 60.68 billion rupees ($764.62 million), down from 650.4 million a yr before. crore due to a sharp drop in other profits.

The bank’s other income in the June quarter was Rs 2,312 crore in contrast to Rs 11,802 crore in the exact time period.

Gross bad money owed as a percentage of whole assets in the very first quarter of the fiscal calendar year was 3.91%, when compared to 3.97% in the past quarter.

(1 USD = 79.3600 INR)

Reporting by Nupur Anand Modifying by Kim Coghill

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