August 8, 2014 / 7:32 AM / in 3 years

State Bank of India Q1 net up in line with estimates

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MUMBAI, Aug 8 (Reuters) - State Bank of India, the nation's top lender by assets, reported its first profit increase in six quarters on Friday and said that bad loans were largely stable.

SBI, which accounts for about quarter of loans and deposits in India, said standalone net profit rose 3.3 percent year-on-year to 33.49 billion rupees ($545.22 million) in its fiscal first quarter to June 30, in line with analysts' estimate of 33.35 billion rupees. ($1 = 61.4250 Indian rupees) (Reporting by Devidutta Tripathy; Editing by Miral Fahmy)

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