SINGAPORE (Standard&Poor's) May 26, 2014--Standard&Poor's Ratings Services said today that its issuer credit rating on State Bank of India (SBI: BBB-/Negative/A-3) is not affected by the bank's results for the fiscal year ended March 31, 2014. SBI's performance was weaker than in fiscal 2013, but generally in line with our expectation. SBI's profit before tax (stand-alone) fell about 19% year over year to Indian rupee 161 billion, primarily because of a 25% increase in loan impairment charges, reflecting the weak asset quality of Indian banks. The bank's profitability in terms of return on average assets was the lowest in the past five years. For SBI, midsize corporates and small and midsize enterprises continue to contribute a
