Kolkata, May 23 (ANI): State Bank of India (SBI), the nation’s top lender by assets, posted better-than-expected quarterly bad debt levels and said it now expected an improvement, a long-awaited sign of easing pressure that helped its shares jump over five percent. The loan improvement in the three months ended in March helped SBI, which accounts for about a quarter of Indian loans and deposits, post a 23 percent rise in net profit to 37.42 billion rupees ($589 million), above forecasts. The bank’s gross bad loan ratio fell to 4.25 percent the March quarter from 4.9 percent in the previous three months.
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