SBI clocks Rs 14,330 crore net profit in Q2

Mumbai, Nov 4

The State Bank of India (SBI), the country’s largest bank, on Saturday reported an 8 per cent increase in net profit to Rs 14,330 crore for the July-September quarter of the current financial year.

The bank had made a net profit of Rs 13,265 crore in the same quarter last year.

SBI’s net interest income (NII) went up by 12.3 per cent to Rs 39,500 crore from Rs 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 Rs 578.15 apiece on the BSE.