|Chennai||Rs. 24840.00 (-0.36%)|
|Mumbai||Rs. 25460.00 (-0.16%)|
|Delhi||Rs. 25450.00 (2.21%)|
|Kolkata||Rs. 25000.00 (0%)|
|Kerala||Rs. 24700.00 (0%)|
|Bangalore||Rs. 25050.00 (1.42%)|
|Hyderabad||Rs. 24930.00 (1.63%)|
The bank had on Friday said gross slippages were Rs 8,495 crore. After the revision, this has been pegged at Rs 7,111 crore, while fresh slippages are at Rs 2,277 crore.
State Bank of India, the country's largest lender, on Monday lowered its slippage figure by Rs 1,389 crore after realising these had been inflated due to double counting.
During the second quarter earnings announcement on Friday, the bank had said gross slippages were Rs 8,495 crore. After the revision, this has been pegged at Rs 7,111 crore, while fresh slippages (net of upgradation and recovery) are at Rs 2,277 crore.
"The accounts had slipped and been upgraded in the same quarter. However, there is no change in the closing NPA (non-performing assets) level," Pratip Chaudhuri, chairman, told Business Standard. The accounts revised were loans to mid-size corporate entities.
SBI had closed the quarter with a gross NPA ratio at 5.15 per cent, compared to 4.99 per cent on June-end. Net NPA increased to 2.44 per cent from 2.22 per cent.
Investors took note of the clarification as the stock closed the day at Rs 2,190.65, up 1.6 per cent from its previous close at the Bombay Stock Exchange as compared to a 0.07 per cent decline of the broader market.
SBI expects Rs 4,000 crore of slippages in the October-December quarter. It has reported 30 per cent growth in net profit for the quarter ended September to Rs 3,658 crore from the Rs 2,810 crore recorded in the same period of last year, due to lower provisioning towards bad loans. Gains from treasury operations also boosted earnings, though income from core activities, as indicated by net interest income, registered a marginal five per cent growth.
The bank's management had said the lower provisioning in the second quarter was due to front-loading of provisioning in the first quarter. The provision coverage ratio fell for a second straight quarter. It was 62.8 per cent compared with 68.1 per cent as on March-end.