State Bank of India (SBI) on December 10 reported bad loan divergence of Rs 11,932 crore for the last financial year, the country's largest lender said in a notification to exchanges.
SBI also reported divergence of Rs 12,036 crore in provisioning for the financial year ended March 2019.
The gross non-performing assets (NPAs) reported by the bank stood at Rs 1.73 lakh crore as on March 31, 2019. However, gross NPAs as detected by RBI was at Rs 1.85 lakh crore for the period.
While the bank provided Rs 1.07 lakh crore against bad loans, the provisioning requirement as assessed by RBI stood at Rs 1.19 lakh crore.
As a result, the bank's fourth-quarter net profit of Rs 838 crore stands adjusted to a net loss of Rs 6,986 crore after taking the additional provisioning into account.
Also, SBI said there would be the subsequent impact of Rs 3,143 crore on gross NPAs, Rs 687 crore on net NPAs and Rs 4,654 crore on provisioning against bad loans in the third quarter of the current financial year.
The divergences were part of the bank's Risk Assessment Report by RBI for the financial year 2018-19.
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