SBI's second quarter net up over 40 per cent at Rs2,260 crore

27 October 2008

Mumbai: The State Bank of India (SBI), the country's largest lender, has reported an over 40 per cent jump in its net profit for the July-September quarter, at Rs2,259.72 crore, even as the global banking industry is caught in a financial market whirlpool.

SBI's net profit rose 40.23 per cent to Rs2,259.72 crore in the quarter ended September 2008 as against Rs1,611.42 crore during the previous quarter ended September 2007.

Total operating income rose 34.01 per cent to Rs1,5566.50 crore in the quarter ended September 2008 as against Rs11,616.28 crore during the previous quarter ended September 2007. 

''Driven by high growth in interest income coupled with other income, the bank has registered over 40 per cent growth in its profit during the quarter," SBI said in a statement.

SBI reported a doubling of its income at Rs108,881 crore in the September quarter.

Total income rose to Rs17,909.64 crore in the second quarter, from Rs13,658.22 crore a year ago.