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  • SBI Q1 net profit up 25% at Rs 2914 cr, beats estimates

    Published on August 13, 2010

     India’s largest bank – State Bank of India (SBI) has announced its results for the quarter ended June 2010. It has reported net profit of Rs 2,914 crore as against Rs 2,330.4 crore, a growth of 25.04% on year-on-year basis.

    Net interest income jumped 45.36% to Rs 7,304 crore from Rs 5,024.9 crore in same quarter of financial year 2009-10.

    Numbers were better-than-expected; CNBC-TV18 was expecting net profit at Rs 2,450 crore and net interest income at Rs 6,646.3 crore.

    Net non-performing assets (NPAs) improved to 1.7% versus 1.55% and the bank made provisions for NPAs at Rs 1,733 crore in Q1 as against Rs 1,344 crore.

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