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SBI, UBI, Indian Bank post steep fall in profit

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  12 Feb 2016 12:00 AM GMT

Cheni, Feb 11: Led by State Bank of India (SBI), three government-owned banks on Thursday declared steep fall in their net profits and two other banks reported net loss for the third quarter of the current fiscal. The fall in profit or posting of net loss is due to higher provisioning towards bad loans or non-perfoming assets (NPA).

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