Shock and woe as SBI reports first quarterly loss in 17 years
10 February, 2018, 06:48 | Author: Barbara Daniel
State Bank of India, the nation's biggest lender by assets, reported a surprise loss of 24.16 billion rupees ($375.10 million) for the three months ended December. Its net non-performing assets rose from 5.43% to 5.61%. "The slippage ratio for nine months was lower than a year ago and we aim to contain fresh slippages within two per cent in FY19", he said adding that the bank has provided almost 60 per cent towards cases under resolution via NCLT.
State Bank of India (SBI) unloaded two bits of bad news after market hours on Friday: An unexpected first quarterly net loss in at least 17 years and significant divergences in provisioning compared to the Reserve Bank of India's assessment.
Besides, SBI also reported a significant divergence - a staggering Rs 23,239 crore - compared to RBI's assessment as of March 2017.
A bulk Rs 10,000 crore of divergences were from the power sector and Kumar said further pain is in the offing, with high exposure to the sector.
The bank's bad loans or non-performing assets (NPAs) in Q3 stood at Rs 1.99 lakh crore from Rs 1.86 lakh crore in the previous quarter.
The bank, which has a Rs 78,000-crore exposure to the 40 accounts being resolved through the insolvency process, does not see much impact of such accounts on its bottomline as the provisions for these are already at 60 per cent levels. Contribution of treasury operations to the bank's income also came down during the quarter.
During the quarter, the central government has infused Rs 1,375 crore by way of preferential allotment of equity shares.
It said the growth in advances was fuelled on account of retail loan growth of 33.37 per cent and within retail loan, home loan grew by 44.33 per cent.
The overall capital adequacy ratio was at 12.68 per cent with the core tier-I at 10.30 per cent. "We are at the end of the NPA cycle and the scenario for next year looks very good".
Colon took off his AirPods and put them on some workout equipment while he looked around for a member of staff. A Florida man says one of his Apple AirPods started smoking as he was working out at a St.
And speedskater Shani Davis , a five-time Olympian and four-time medalist, ended up on the wrong end of it. Shani Davis adds controversy into the selection of the USA flag bearer with tweet slamming the process.
After all, the shrimp and crab already had emojis, as did other sea creatures like the squid, octopus, dolphin, shark and whale. He even signed the tweet with a cow emoji and a crown emoji, seemingly representing his name "Angus King".
Weiss , executive producers of HBO's hit series " Game of Thrones ", would write and produce a series of new " Star Wars " movies. But many sports fans might be left wondering what exactly they are paying an extra five dollars a month for.
Sports Boston's Tom Curran called the report " off the reservation " and it appears his initial assessment was spot on. The website also accused Borges of "copying and pasting" their work in the past without giving proper citation.
Concentrated investigative activities and canvasses for witnesses and evidence have taken place across the United States. The reward for information has been raised to $50,000, and tips can be called into the El Paso office at 915-832-500.
Syrian state news agency SANA, citing an army statement said its air defence units "destroyed most of" the Israeli missiles. Last year, USA aircraft shot down a Syrian jet after pro-government forces attacked US allied units in northern Syria.
While the ability to swap out an old battery for a new one is great for consumers, it may not be so great for Apple's bottom line. According to Apple this will prevent the phones from shutting down, but obviously, users were not happy with the news.
The alleged ringleader of the group was Mohammed Emwazi, dubbed Jihadi John, who was killed in an air strike in Syria in 2015. The SDF suspected the two men were foreign fighters and handed them over to American Special Operations forces.
Snap paid publishers more than $100 million previous year
It's that time of the year again when companies share their fourth-quarter results and Snap reports solid growth in North America. It added 8.9 million daily active users in the final three months of the year, more than any other quarter of the year.
Taiwan quake death toll rises to 10
Taiwan's Central News Agency says four people have been killed and 225 others injured, while more than 140 remain unaccounted for. Taiwan is located within the so-called "Pacific Ring of Fire", an area known for its intense seismic activity.
NY's Porzingis out for season
Porzingis is eligible for a five-year, $150-million contract extension this summer, which only adds more drama to his situation. After the game, an emergency MRI at Madison Square Garden revealed that Porzingis had torn his ACL.
Will Snap Have More Bad News When It Reports Earnings?
In related news, Director Mitchell Lasky sold 25,000 shares of the company's stock in a transaction dated Tuesday, November 21st. Those design changes have put a bigger emphasis on user-to-user sharing, as opposed to content created by publishers and brands.