01-01-1970 12:00 AM | Source: Reuters
India's biggest lender SBI reports 41% rise in Q4 profit
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MUMBA - State Bank of India (SBI), India's biggest lender, said on Friday its fourth quarter profit rose 41% to 91.14 billion Indian rupees ($1.18 billion), as the state-run bank set aside less money for bad loans.
Income from interest on loans rose 8.6%, while provisions for bad loans fell by two-thirds to 32.62 billion rupees, the bank said in a filing to exchanges on Friday.
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