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Q1 results: SBI net down 20%, NPAs worsen

Farm debt waiver hits retail loan asset quality; loan demand expected to pick up later this year

SBI net down 20%, NPAs worsen
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Abhijit Lele Mumbai
State Bank of India’s stand-alone net profit for the April-June quarter (Q1) of 2017-18, and the first after the merger of associate banks, dipped by 20.3 per cent to Rs 2,005 crore from Rs 2,520 crore in April-June 2016. 
 
However, the bank clarified that the results for Q1 FY18 included operations of the erstwhile banking subsidiaries and Bharatiya Mahila Bank (BMB), and the results are not comparable with June 2016 quarter numbers. 
 
The bank said that the net profit would go up by 436 per cent from Rs 374 crore to Rs 2,006 crore if the June 2016

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