SBI Q2 net profit rises by 12%

Stocks

oi-Monika

By Monika Nihalani

Published: Wednesday, November 9, 2011, 12:34 [IST]

State Bank of India, India's largest lender reported a 12% rise in net profit at Rs 2,810 crore for the second quarter ended on September 30.

The bank's net profit stood at Rs 2,501 crore corresponding quarter previous year.

It's net interest income during the quarter rose by 28.43% from Rs 8,115 crore a year ago to Rs 10,422 crore.

Bank's gross non performing assets (NPAs) rose to 4.19% at Rs 33,946 crore during the quarter against 3.35% at Rs 23,205 crore corresponding quarter previous year.

The provisions of the bank increased by 29% from Rs 2,622 crore a year ago to Rs 3,386 crore.

The bank's provision coverage ratio stood at 63.50% as on September 30.

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