State Bank of India (SBI) registered its highest ever quarterly net profit of ₹14,205 crore in the October-December 2022 period a jump of 68.47 per cent year-on year (YoY).
Robust growth in net profit, which beat analyst estimates, came on the back of a healthy net interest margin (NIM) and a sharp decline in loan loss provisions. Bloomberg data showed analysts estimated a net profit of 13, 212 crore in Q3. The lender posted a net profit of ₹8,432 crore in Q3FY22. On a sequential basis, the Q3FY23 figure was 7.09 per cent higher; the net profit in Q2FY23 was ₹13,265 crore, the previous best.
This story is from the February 04, 2023 edition of Business Standard.
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This story is from the February 04, 2023 edition of Business Standard.
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