Net interest income rose 10.7 percent, while net interest margin, a key indicator of a bank"s profitability India"s largest lender State Bank of India reported a record quarterly profit on Wednesday, as provisions for bad loans more than halved and credit costs slipped, sending shares up more than 3 percent to an all-time high. Most large Indian banks have reported higher profits for the September quarter, buoyed by a rebound in credit demand as the economy reopened fully and low interest rates boosted spending on automobiles and homes. SBI"s credit growth was 6.17 percent at the end of the September quarter, driven by a 15.17 percent jump in personal retail loans, the state-owned bank said. It had forecast an overall credit growth of 9 percent for fiscal 2022. Net profit rose 66.7 percent to 76.27 billion rupees ($1.02 billion) for the three months ended Sept. 30, beating analysts" expectations for a profit of 71.82 billion rupees, according to Refinitiv IBES data. Net interest income rose 10.7 percent, while net interest margin, a key indicator of a bank"s profitability, was 3.50 percent, up 16 basis points from a year ago. Provisions for bad loans slid 52 percent, while the Mumbai-based bank"s gross bad loan ratio, a measure of asset quality, slipped to 4.90 percent from 5.32 percent a quarter earlier. Credit cost declined 51 basis points to 0.43 percent. Private-sector rivals ICICI Bank and HDFC Bank reported robust quarterly results last month on strong loan growth, but Axis Bank lagged its peers. SBI shares, which have outperformed the blue-chip NSE Nifty 50 index so far this year with a near 90 percent jump, rose as much as 3.7 percent to a record high of 540.8 rupees after the results.