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

    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.

    October 26, 2016 / 09:20 IST
       
       
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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.

      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: Oct 25, 2016 08:18 pm

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