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.

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.