Mumbai: Reporting a massive 85 per cent rise in provisioning against non-performing assets, State Bank of India today said one company alone accounted for Rs 1,500 crore of bad loans in the quarter ended December, 2011.
It also noted that Air-India will not become a non-performing asset before April.
"Out of the total fresh slippages, as much as one-fourth or one fifth has come from a single company. So, if you look at the total slippages (net increase) of Rs 6,152 crore, one company alone accounted for around Rs 1,500 crore," SBI Chairman Pratip Chaudhuri said without naming the the company.
It may be recalled that in early January State Bank of India (SBI) had called the Vijay Mallya-led Kingfisher Airlines a non-performing asset. SBI is the the largest creditor to cash-strapped airline.
For this one company, the bank has to set aside Rs 1,200 crore as provisions for this quarter, he said. The bank reported 85 per cent rise in provisioning against bad loans in the December quarter.
14/02/12 PTI/Economic Times
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