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SBI to restructure Rs 5,000-6,000 crore of debt in next 3-4 months

24 May 2013 Evaluate

State Bank of India (SBI), the country's largest lender, would restructure Rs 5,000-6,000 crore of debt in the next three to four months. It restructured Rs 8,090 crore in loans in the fourth quarter. The bank's total restructured book now stands at Rs 43,100 crore.

The bank’s net profit contracted by 18.54% at Rs 3299.22 crore for the fourth quarter as compared to Rs 4050.27 crore for the quarter ended March 31, 2012. However, total Income of the bank has increased by 6.98% to Rs 36330.87 crore for the quarter ended March 31, 2013 from Rs 33959.54 crore for the quarter ended March 31, 2012.

For the year ended March 31, 2013, the bank’s net profit surged by 20.48% at Rs 14104.98 crore as compared to Rs 11707.29 crore for the year ended March 31, 2012. Bank’s total Income has increased by 12.26% to Rs 135691.94 crore for the year under review from Rs 120872.90 crore for the previous fiscal.

Peers
Company Name CMP
State Bank Of India 959.00
PNB 112.00
Bank Of Baroda 232.35
Canara Bank 118.60
Union Bank Of India 168.10
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