By Reuters Staff
FILE PHOTO: A man checks his mobile phones in front of State Bank of India (SBI) branch in Kolkata, India, February 9, 2018. REUTERS/Rupak De Chowdhuri/File Photo
BENGALURU (Reuters) – State Bank of India, the countrys largest lender by assets, reported a record quarterly profit on Wednesday, helped by a sharp drop in provisions for soured assets.
Net profit rose 55% to 65.04 billion rupees ($876.79 million) for the three months ended June 30, from 41.89 billion rupees a year earlier, the lender said in a regulatory filing here.
($1 = 74.1800 Indian rupees)read more
India’s largest bank SBI reports record quarterly profit – Reuters
