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.
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