MUMBAI Nov 9 State Bank of India, the
country's biggest lender, posted a 30 percent gain in quarterly
net profit, the smallest increase this year, as higher
provisioning for bad loans constrained earnings growth.
Net profit rose to 36.58 billion rupees ($671.13 million)
for the quarter ended September from 28.1 billion rupees a year
earlier, the bank said on Friday.
Analysts, on average, had expected a net profit of 35.69
billion rupees, according to Thomson Reuters I/B/E/S.
Non-performing loans increased to 5.15 percent of total
assets at end-September, compared with 4.19 percent a year
($1 = 54.5050 Indian rupees)
(Reporting by Swati Pandey; Editing by Ryan Woo)