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-State Bank of India reports profit

Nov 06, 2018 - Global Banking News

Global Banking News - 06 November 2018

India-based State Bank of India (NSE: SBI) has posted a profit.

The firm has reported a standalone net profit of INR9.45bn for the April-September period. It said that it benefited from one-time gains and lower provision for bad loans. The profit reported for the latest quarter is however 40 percent less than the company posted in the same period a year ago.

For the quarter, total income rose to INR666bn compared to INR654bn reported in th...