SBI's Q2 net rises 74% to Rs 13,265 crore on improved interest margins

The lender's net interest income improved 12.83 per cent YoY to Rs 35,183 crore for Q2FY23, against Rs 31,184 crore last year


The bank's Net Interest Margin (NIM) in domestic operations improved 3.55 per cent in Q2FY23, against 3.50 per cent a year ago. It improved 5 basis points on a sequential basis, from 3.23 per cent in Q1FY23.

Abhijit Lele Mumbai
State Bank of India’s net profit rose by 73.93 per cent year-on-year (YoY) to Rs 13,265 crore in the July-September quarter Q2FY23 on improvement in interest margins and decline in provisions for bad loans.

Country’s largest lender had posted a net profit of Rs 7,627 crore in Q2FY22.

The bank’s stock closed 1.53 per cent higher at Rs 593.75 per share on the BSE on Friday.

First Published: Nov 05 2022 | 2:43 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to