SBI Q2 Net Profit surges 67%, bank registers highest quarterly Net Profit of Rs 7,627 crores
Zee News
The bank's Operating Profit increased by 9.84% YoY to Rs 18,079 crores in Q2FY22 from Rs 16,460 crores in Q2FY21.
New Delhi: The country's largest lender State Bank of India (SBI) on Wednesday registered its highest quarterly Net Profit of Rs 7,627 crores in for the second quarter ended September 30 on account of decline in bad loans. This represents increase of 66.73% Year on Year.
The bank's Operating Profit increased by 9.84% YoY to Rs 18,079 crores in Q2FY22 from Rs 16,460 crores in Q2FY21. (Also read: SBI launches pre-approved 2-wheeler loan on YONO, EMI as low as Rs 2,560 per lakh)
Fully provided Rs 7,418 crores due to change in family pension rules, even as regulator granted dispensation to amortise in 5 years. The lender's Net Interest Income for Q2FY22 increased by 10.65% YoY.
