Shares of State Bank of India rose more than 6 percent to a 12-week high on Wednesday after the country’s largest lender projected a recovery over the next two years following a record quarterly loss. Top brokerages welcomed SBI’s move to clean up its accounts, recognizing large part of its stressed assets that forced the Mumbai-based lender to report a quarterly loss of 77.18 billion rupees ($1.13 billion), the second highest in the country’s banking industry. For More Information Please Visit : www.paceresearchindia.com and Call : 8817774774Wednesday, 23 May 2018
SBI Share Price Jumps To 12-week High As India’s Largest Lender Takes Recovery Path
Shares of State Bank of India rose more than 6 percent to a 12-week high on Wednesday after the country’s largest lender projected a recovery over the next two years following a record quarterly loss. Top brokerages welcomed SBI’s move to clean up its accounts, recognizing large part of its stressed assets that forced the Mumbai-based lender to report a quarterly loss of 77.18 billion rupees ($1.13 billion), the second highest in the country’s banking industry. For More Information Please Visit : www.paceresearchindia.com and Call : 8817774774
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