The country’s largest Bank, State Bank of India (SBI) has posted an 11.5 per cent increase in net profit during the August-September quarter of 2008-09.
In a filing to the Bombay Stock Exchange today, the bank said that its consolidated profits in the quarter ended September 30 stood at Rs 2,458 crore compared to Rs 2,204.56 crore in the corresponding period last year.
This performance comes at the back of an increase in lending rates by the bank.
Total income of the bank increased by 26.41 per cent to Rs 27,083.47 crore for the August-September quarter this fiscal from Rs 21,424.26 crore in the same period last year.
On stand-alone basis, the net profit of SBI increased by 40.23 per cent to Rs 2,259.72 crore in the September quarter, against Rs 1,611.42 crore in the same period last year.
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