INSUBCONTINENT EXCLUSIVE:
Recovery in written-off accounts grew 14.6% to Rs
1,327 crore in Q2, State Bank of India saidState Bank of India (SBI), the country's largest lender, on Monday reported a net profit of Rs
944.87 crore for the July-September period, registering a 40.3 per cent fall from Rs 1,581.55 crore in the corresponding period a year ago
SBI's total income increased to Rs 66,607.98 crore for the quarter ended September 30, from Rs 65,429.63 crore in the year-ago
period.Provisions for bad loans at SBI fell 39.1 per cent from a year earlier to Rs 10,185 crore
of net NPAs or non-performing assets stood at 9.95 per cent in the September quarter, as against 10.69 per cent in the previous quarter, and
containing overhead expenses and focus on credit quality has enabled the bank to deliver a net profit during the second quarter, SBI
SBI jumped as much as 5 per cent after the earnings announcement, before settling with a gain of 3.8 per cent for the day
SBI shares outperformed the broader markets, whose key indices Sensex and Nifty finished 0.2 per cent lower.(With inputs from Reuters)
