Monday, July 30, 2012

State Bank of India's asset quality improving: Chairman


Mumbai, July 27 (Reuters) - State Bank of India's asset quality is improving compared to last year, Chairman Pratip Chaudhuri said on the sidelines of a news conference after announcing its $1.25 billion bond issue. He did not give any further details citing a silent period ahead of the earnings. India's biggest lender will post April-June quarterly results on Aug. 8, Chaudhuri added.
The comments came after SBI shares slumped as much as 3.8 percent on Friday as a rise in non-performing assets at Punjab National Bank and Union Bank sparked concerns about asset quality in the government-run banking sector.

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