Of the total 12, three lenders - State Bank of India (SBI), Punjab National Bank (PNB) and Bank of India - reported fall in profits ranging from 7-70%. Decline in profit by these lenders has been attributed to Mark-to-Market (MTM) losses due to hardening bond yields.source https://economictimes.indiatimes.com/industry/banking/finance/banking/psbs-clock-9-rise-in-profit-to-rs-15306-crore-in-april-june/articleshow/93462270.cms
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