State Bank Of India Profit Rises 55% To Rs 6,504 Crore In June Quarter

The country’s largest lender, State Bank of India (SBI), on Wednesday reported net profit of Rs 6,504 crore in quarter ended June 2021, that marked an increase of 55 per cent from profit of Rs 4,189.34 crore during the same period last year. SBI’s net profit in June quarter was boosted by higher other income and lower provisions for bad loans.

State Bank of India’s net interest income or the difference between interest earned on loans and interest expended on deposits advanced 3.74 per cent to Rs 27,638 crore versus Rs 26,641.56 crore in the corresponding period a year ago.