💨 Abstract

State Bank of India, India's largest lender, reported a 28% increase in second-quarter profit, exceeding analyst expectations, due to robust core lending income. Interest income grew 12.3%. Despite strong loan demand, higher provisions were made for non-performing loans, with bad loan provisions doubling. The bank's gross bad loans as a proportion of total loans decreased slightly from June to September.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖