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SBI Q2 Results Declared: Net Profit Jumps By 9.13% To Rs 16,099 Crore

On a standalone basis, it posted a net profit of Rs 14,330.02 crore as against Rs 13,264.52 crore in the year-ago period.

SBI Q2 Results Declared: Net Profit Jumps By 9.13% To Rs 16,099 Crore File Photo

New Delhi: The country's largest lender SBI on Saturday reported a 9.13 percent growth in consolidated net profit for the September quarter to Rs 16,099.58 crore. The state-run lender had reported a consolidated net profit of Rs 14,752 crore in the year-ago period and Rs 18,356 crore in the June quarter.

On a standalone basis, it posted a net profit of Rs 14,330.02 crore as against Rs 13,264.52 crore in the year-ago period. (Also Read: SBI Latest FD Rates 2023: Check Updated Fixed Deposit Rates Of State Bank Of India)

The bank, which controls over a fifth of the overall market and has the widest network in the country, reported a total income of over Rs 1.12 lakh crore for the quarter under review, up from Rs 88,733 crore in the year-ago period. (Also Read: Credit Cards With Best Cashback Offers: Check Comparison Of Features, Benefits, Charges, And More)

From an asset quality perspective, its gross non-performing assets ratio was at 2.55 percent as of September 30, an improvement from 3.52 percent in the year-ago period and 2.76 percent in the first quarter of the current fiscal.

Its overall capital adequacy stood at 14.28 percent as of September 30.