Net income climbed to 35.8 billion rupees (US$474mil) in the latest quarter from 8.4 billion rupees a year earlier.This pushed SBI shares up as much as 9% yesterday, the most since March.
MUMBAI: State Bank of India said its profit jumped fourfold due to muted provisions, as the country’s largest lender expressed confidence it has enough of a bad loan cushion to withstand the effect of the corornavirus pandemic.
Net income climbed to 35.8 billion rupees (US$474mil) in the latest quarter from 8.4 billion rupees a year earlier.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
