MUMBAI — The State Bank of India (SBI), the country’s largest bank, on Saturday reported an 8 per cent increase in net profit to INR 14,330 crore for the July-September quarter of the current financial year.
The bank had made a net profit of INR 13,265 crore in the same quarter last year.
SBI’s net interest income (NII) went up by 12.3 per cent to INR 39,500 crore from INR 31,184 crore reported in the same period of previous financial year.
The bank’s asset quality also improved with gross non-performing assets (NPAs) coming in at 2.55 per cent, down from 3.52 per cent recorded in the same quarter last year.
The net NPA for the quarter stood at 0.64 per cent, improving from 0.80 per cent on a year-on-year basis.
Shares of SBI on Friday closed at INR 578.15 apiece on the BSE.
Also read: Indian gaming industry to reach $7.5 bn by FY28, country has 568 mn gamers
