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

SBI
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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

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