SBI Q1 net profit falls by 31.7% to ₹2,520 crore
The country's biggest lender State Bank of India (SBI) on Friday reported a 31.73% drop in net profit to ₹2,520 crore for the quarter ended June. Provisions and contingencies jumped 85.34% to ₹7,413.1 crore against the previous year period on account of higher bad loans. The bank's gross non-performing assets increased by 80% to ₹1.01 lakh crore.