November 9, 2012 / 7:06 AM / 5 years ago

State Bank of India Q2 net profit rises 30 pct, bad loans increase

1 Min Read

MUMBAI, Nov 9 (Reuters) - 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 earlier. ($1 = 54.5050 Indian rupees) (Reporting by Swati Pandey; Editing by Ryan Woo)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below