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SBH posts 219-cr operating profit
State Bank of Hyderabad (SBH) reported a net loss of Rs 619.82 crore for the third quarter ended on December 31, 2016, as compared to a net profit of Rs 185.01 crore in the same period a year ago.
Hyderabad: State Bank of Hyderabad (SBH) reported a net loss of Rs 619.82 crore for the third quarter ended on December 31, 2016, as compared to a net profit of Rs 185.01 crore in the same period a year ago. The city-based bank, a subsidiary of State Bank of India, attributed the loss to higher loan provisions.
The operating profit, however, stood at Rs 219.44 crore in the third quarter as against Rs 854.11 crore in the corresponding quarter a year ago. The other income went up by 29 per cent to Rs 471.58 crore from Rs 366.09 crore a year ago, the bank said in a release.
For the nine month period to December 2016, the operating profit was a healthy Rs 2,230.79 crore. However, the bank registered a net loss of Rs 1,368 crore due to higher loan provision of Rs 4,047 crore, according to Mani Palvesan, Managing Director, SBH.
