The drop came after the bank's bad loans had climbed since SBI merged its five subsidiary banks with itself earlier in the year.
Gross bad loans as a percentage of total loans stood at 9.83% at end-September compared with 9.97% at end-June.
State Bank of India (SBI), India's largest lender, has posted a 37.7 per cent decline in standalone net profit at Rs 1,581.55 crore in the September 2017 quarter as against Rs 2,538.32 crore in the same period of a year ago amid a rise in bad loans.
To set aside enough buffers against the expected bad loans, SBI's provisions increased 87 percent over the previous three months to Rs 18,418 crore in the quarter ended September.
Slippages were under control, as gross non-performing assets (GNPA) declined sequentially from Rs 188,068 crore to Rs 186,115 crore at the end of Q2FY18.
State Bank of India, the nation's biggest lender by assets, reported a second-quarter net profit of Rs1,582 crore ($243.3 million), missing estimates, on higher provisions for bad loans.
Apple is Working on Augmented Reality Glasses
Geoff Stahl, formerly a software manager for games and graphics at Apple , is one of the directors of the " rOS " software group. Apple also invested $200 million in Corning in May as part of a $1 billion commitment to strengthen USA manufacturing.
Income from non core business helped the bank making higher profits despite higher provisions and call fall in net interest margin to 2.37 per cent from 2.67 per cent a year back.
The bank is also witnessing good recoveries from retail and small and medium enterprises (SMEs) with its NPAs in retail declining to Rs 53,000 crore, of the total NPAs of Rs 1,86,115 crore.
Instead, the NPAs worsened from a year ago, with gross NPAs at 7.14 per cent and net NPAs at 4.19 per cent as on September 2016.
The Rs. 8,400-crore SBI Life Insurance's IPO was oversubscribed 3.58 times during the offer period from September 20-22. The annualised slippage ratio declined to 1.85 per cent compared to 5.28 per cent during the June quarter.
SBI has revealed exposure to 27 accounts from the second list of RBI-identified companies. Announcing the results, SBI chairman Kumar said that the corporate loan book had shrunk because of deleveraging by corporates and shift in borrowing to bonds.
Injustice 2 will receive its final DLC character pack soon, and the characters have been announced in a new video. Injustice 2 is out now for Xbox One and PlayStation 4, with a PC release date slated for November 14th.
Urban is set to perform " Female ", written by Ross Copperman , at the Country Music Assn. "And as a son - my mother is alive". The lyrics streamed on the stage behind him - and they were quite powerful lyrics.
The institutional investors in our partner's database now have: 55.72 million shares, up from 54.45 million shares in 2017Q1. Victory Capital owns 837,923 shares or 0.08% of their U.S. portfolio. 8,745,434 shares of the stock were exchanged.
Also on Saturday, the USA and South Korean navies launched four days of joint drills off the east coast of South Korea. During his recent visit to Seoul, Trump said, " North Korea is not the paradise your grandfather envisioned.
Ashanti's parents, who are both Army veterans, say they are grateful for the arrest, but her mother says she's also angry. They said Brown came to the restaurant almost every day and had been seen flirting with the teen on several occasions.
A little warmup on Sunday with temperatures back in the upper 40s and a chance for rain showers by Sunday evening. The Accuweather.com forecast is calling for a brisk Friday with a high temperature of 41 degrees and sunny skies.
The glam squad takes over from last year's celebrity co-chair's Katy Perry , Pharrell , Gisele Bundchen and Tom Brady. Meanwhile, Rihanna has attended the Met Gala no less than seven times , the first time being back in 2007.
A spokesperson for the US Capitol Police said 15 adults were arrested during the protests, according to the Washington Post . Of the 155,000 people who were eligible to apply in the six-month window, about 133,000 did file applications on time .
The Nottinghamshire paceman fell awkwardly just four overs into his opening bowling spell against the Australian XI on Thursday .
Millennium Falcon is hiding in plain sight on Google Earth
Some folks casually stumbled upon the Millennium Falcon resting in a field in Surrey, England , next to Barrows Hills Golf Club . Rey was last seen piloting the Falcon in the most recent Star Wars film but nobody expected her to end up here.
Early orders of Google Pixel Buds are now shipping
It seems that Google latest flagships, the Pixel 2 and Pixel 2 XL are turning to be one of the buggiest ones. Likewise, device owners have reported the issues persists regardless of which brand of headphones are used.
Rupert Murdoch Called AT&T's CEO Twice About CNN Sale
Trump's comments have provoked concern that he may improperly influence the US Department of Justice to block the deal. Then he added: "I do feel you should have as many news outlets as you can - especially since so many are fake".
Loftus-Cheek wins Man of the Match on England debut
Despite only making 12 Premier League appearances, Loftus-Cheek displays a kind of arrogance that makes him stand out. I had to be really patient and have the mentality to still train right and do all the right things.
Croatia cruise, Swiss earn away win
The World Cup Playoff matches in Europe have begun, with Croatia and Switzerland taking huge leads to carry into the second legs. The Blazers have a very talented squad featuring players like Mandzukic, Luka Modric and Ivan Rakitic.