Gross bad loans as a percentage of total loans stood at 9.83 percent at end-September compared with 9.97 percent at end-June.
He further said fresh slippages in Q2 were at Rs 9,026 crore against Rs 26,249 crore in previous quarter.
The bank is also witnessing good recoveries from retail and small and medium enterprises (SMEs) with its NPAs in retail declining to Rs 53,000 crore, of the total NPAs of Rs 1,86,115 crore. The stock market reacted positively to the improvement in asset quality.
Shares of SBI jumped 6.20 per cent to settle at Rs 333.20 on the BSE on Friday. Standalone operating profit excluding exceptional item (part sale of SBI Life Insurance stake) grew 11.4 per cent year-on-year to Rs 14,563 crore. Net profits fell 21 percent on a sequential basis, the bank said.
During the quarter, gross NPAs rose to 14.10 per cent of gross advances, up from 12.28 per cent a year earlier. "SME and personal loans are showing good recovery, and agriculture will start showing once we get the loan waiver amount from the government", Kumar said. Since the nation's largest lender had merged its five associate banks and Bharatiya Mahila Bank from April this year, the numbers are not comparable.
Drug firm Novartis India on Friday reported a 17.60% rise in its net profit to Rs26.12 crore for the quarter ended 30 September 2017.
During the reporting quarter, SBI sold its shares in life insurance business SBI Life for Rs 5,436 crore. This includes provisions made for written-off accounts. Gross NPAs fell to 9.83 per cent of gross advances compared to 7.14 per cent a year ago.
Kumar does not expect credit growth to improve significantly in the second half of the current year. The sluggish loan growth was due to the corporates loan book shrinking. In an analyst call, Kumar said, "I don't understand you analysts".
On capital raising plans, the SBI chief did not indicate specific steps to raise more capital but added that at present the capital position of the bank was strong and would like it to be stronger.
Packers waive TE Martellus Bennett, ending short tenure
Bennett played with New England last season, winning the Super Bowl over the Atlanta Falcons in a historic comeback. Bennett practiced on Tuesday after the bye last week before going on the injury report with a shoulder injury.
Uber plans to make vertical take-off and landing vehicles, which will allow their flying cars to take off and land vertically. Customers could hail a flying taxi much in the same way they would with an Uber auto : via smartphone.
But by mid-December Trump had named Flynn national security adviser and he was playing a central role in the transition. One source said Gülen would be seized and flown by private jet to the Turkish prison island of Imrali.
He also said the Council had been looking at the 28 percent tax slab and constantly rationalising items in it in lesser tax slabs. The panel also recommended lowering tax rates for manufacturers and restaurants under the composition scheme to 1 per cent.
Transactions like Comcast's acquisition of NBCUniversal in 2011 are routinely approved with conditions attached. As a candidate, Trump vowed to block the deal because it concentrated too much "power in the hands of too few".
Today, Nintendo made the announcement that Hulu would be the first major player in the field to bring its content to the Switch . This is despite the fact that the Nintendo Switch is a touchscreen device, and Hulu has used a touchscreen interface before.
There's no fee for debit card transactions, while an "industry standard" fee will apply for money funded with credit cards. The company also released a second developer beta for watchOS 4.2 and tvOS 11.2 alongside the iOS 11 .2 release.
The comic will no longer participate in " Night of Too Many Stars: America Unites for Autism Programs ", HBO said in a statement . In addition on Friday, C.K.'s management company 3 Arts and his publicist also terminated their relationship with the comedian.
However, OTL's sources said that not only does Jones want Goodell out, but he also has his own candidate in mind to replace him. According to ESPN , Goodell is furious that his next contract might be performance-based.
Magic Leap , which has been quietly working on its own augmented reality hardware, is thought to be targeting consumers instead. That new operating system, internally called "rOS" for "reality operating system", is based on iOS.