SBI net profit drops 66% to ₹1,264 crore in Q4
The country's biggest lender State Bank of India (SBI) on Friday reported a 66% drop in net profit to ₹1,264 crore for the quarter ended March. SBI was hit by an 89.73% jump in provisions for bad loans to ₹13,174 crore. Further, gross bad loans as a percentage of total loans rose to 6.5% in March from 5.1% in December.