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News - Oct 2016
26th Oct 16 State Bank of Mysore posts loss in second quarter, bad loans surges three times
State Bank of Mysore reported a loss of Rs. 183.5 crore in the second quarter ended on September 30 as compared to net profit of Rs. 131 crore during the July to September quarter in FY16 due to rise in the bad loans. Total income of the bank in the second quarter also declined to Rs. 1,947.63 crore from Rs. 1,969.96 crore in corresponding period a year ago.
26th Jul 16 State Bank of Mysore posts Rs 472 crore loss in Q1 on bad loans
State Bank of Mysore posted a net loss of Rs. 471.88 crore in the June quarter of FY17 due to growing bad loans which resulted into a sevenfold jump in the provision for bad loans to Rs. 1037.78 crore in the June quarter of FY17. Total Income of the bank increased to Rs. 1987.63 crore in the June quarter of FY17. Gross NPAs as a percentage to Gross Advances increased to 7.83 per cent. Similarly, Net NPAs percentage also jumped to 4.65 per cent as of June 2016.
25th Nov 15 SBM launches soft loan for affordable housing
State Bank of Mysore launched a new home loan scheme aimed at promoting affordable housing among the lower income customers