SBI Q2 net profit up by 10pc

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SBI
Mumbai, Nov 2: Riding on the increasing demand for loans and rise in treasury income, State Bank of India (SBI) reported better-than-expected numbers for the second quarter (Q2) ended Sep 30, 2009 with a surge of 10.18 per cent in its net profit.

In the statement released on Saturday, Oct 31, India's largest public sector bank revealed that its Jul-Sep 2009 net profit rose to Rs2,490 crore from Rs2,260 crorein the corresponding quarter in 2008.

The bank's total income grew to Rs 21,300 crore in Q2 from Rs 17,910 in the year ago period, up by 18.93 per cent.

SBI's biggest competitor, ICICI bank also reported a 2.6 per cent growth in its quarterly net profit.

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