REUTERS - State Bank Of India, the country's largest lender, restructured 80.9 billion rupees in loans in the January-March quarter, far higher than its earlier guidance of 37 billion rupees, a senior executive told Reuters on Thursday.
The bank's total restructured book now stands at 431 billion rupees, Soundara Kumar, deputy managing director, told Reuters by telephone from Kolkata.
Earlier, SBI posted its first quarterly net profit drop in two years, missing market estimates after being dragged down by lower interest income and higher provisions for loan losses.
(Reporting by Swati Pandey in MUMBAI; Editing by Daniel Magnowski)