India's largest bank SBI reports record $1 bln quarterly profit

  • 11/3/2021
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BENGALURU, Nov 3 (Reuters) - State Bank of India, the country’s largest lender by assets, reported a record quarterly profit on Wednesday, helped by lower provisions for bad loans. Net profit rose 66.7% to 76.27 billion rupees ($1.02 billion) for the three months ended Sept. 30, from 45.74 billion rupees a year earlier, the Mumbai-based lender said in a regulatory filing here. ($1 = 74.5100 Indian rupees) (Reporting by Chris Thomas in Bengaluru; Editing by Subhranshu Sahu)

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