02-03-2023 03:55 PM | Source: Reuters
India's top lender SBI reports 68% jump in Q3 profit
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BENGALURU - State Bank of India, the country's largest lender, on Friday posted a 68.5% surge in third-quarter profit, boosted by a drop in bad loan provisions.
Net profit rose to 142.05 billion rupees ($1.74 billion) for the quarter ended Dec. 31, from 84.32 billion rupees a year earlier, the Mumbai-based lender said in a regulatory filing.
Analysts on average had expected a profit of 131.01 billion rupees, according to Refinitiv IBES data.
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