Moneycontrol
Last Updated : Oct 26, 2016 09:20 AM IST | Source: PTI

State Bank of Mysore posts loss of Rs 184 cr in Q2

State Bank of Mysore (SBM), an associate bank of SBI, on Tuesday posted a loss of Rs 183.5 crore for the second quarter ended September 30, 2016 as bad loans surged almost three times.

 
 
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State Bank of Mysore (SBM), an associate bank of SBI, on Tuesday posted a loss of Rs 183.5 crore for the second quarter ended September 30, 2016 as bad loans surged almost three times.


The bank had posted a net profit of Rs 131.98 crore for the July-September period of FY16.


Total income for the July-September quarter of the current fiscal also declined to Rs 1,947.63 crore from Rs 1,969.96 crore in the year-ago period.

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Gross non-performing assets (NPAs) rose three-fold to 13.01 per cent of gross advances from 4.19 per cent a year ago. Net NPAs also increased to 8.43 per cent from 2.22 per cent.

As a result, provisions and contingencies increased nearly five-fold to Rs 518 crore, as against Rs 116.40 crore in the same quarter a year ago.

First Published on Oct 25, 2016 08:18 pm
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