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State Bank of India Q4 net profit more than doubles as expected

Reuters  |  MUMBAI 

MUMBAI (Reuters) - State Bank of India, the nation's top lender by assets, reported fourth-quarter net profit more than doubled in line with expectations, while its bad loan ratio narrowed from the previous quarter.Standalone net profit, not including contributions from subsidiaries, jumped to 28.15 billion rupees ($433.44 million) for the three months to March 31 from 12.64 billion rupees a year earlier.Analysts on average had expected a net profit of 28.33 billion rupees for the lender, according to data compiled by Thomson Reuters. SBI accounts for more than a fifth of India's total ...

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First Published: Fri, May 19 2017. 12:32 IST