SBI does not expect to recover much from Kingfisher collateral sale

Tags: News
State Bank of India (SBI), the country's biggest lender, does not expect to recover much from the sale of collateral held by Kingfisher Airlines, its chairman told reporters on Thursday.

The consortium of Kingfisher's lenders, lead by SBI, expects to get at least 10 billion rupees through the sale of share and property pledged against loans taken by the grounded airline, said SBI Chairman Pratip Chaudhri.

The lender, earlier on Thursday, posted a 4 percent rise in quarterly net profit, its smallest increase in six quarters, as higher provisions for bad loans and slower loan demand in a sluggish economy hurt growth.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Investigating a crime after three decades is little more than a gimmick

    That communal riots and their aftermath are the easiest stick to beat any opposition with, and have tremendous emotive and therefore vote-catching abi

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Urs Schoettli

It’s time for Japan to step out of its shell

The execution of a Japanese hostage by ISIS has sho­cked ...

Zehra Naqvi

The urge to tell stories

One wants to tell a story, like Scheherzade, in order ...

Bubbles Sabharwal

Truth about truth

The question to ponder is, “is it the truth because ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture