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State Bank of Hyderabad net jumps 90% in second quarter

Interest income during the quarter under review increased 4.7% to Rs 3,451 cr from Rs 3,296 cr in the year-ago period

State Bank of Hyderabad has reported a 91 per cent jump in net profit at Rs 311 crore in the second quarter of FY15, on the back of a rise in net interest income and the intensive recovery efforts on the non-performing asset (NPA) front. The bank's net profit in the year-ago period was Rs 163 crore. Interest income during the quarter under review increased 4.7 per cent to Rs 3,451 crore from Rs 3,296 crore in the year-ago period. However, a near-flat growth in interest expenditure and a marginally lower provisioning has added to the profitability of the bank during this ...