Friday, 19 May 2017

State Bank of India Q4 net profit more than doubles as expected

State Bank of India, the nation's top lender by assets, reported fourth-quarter net profit more than doubled in line with expectations, while its bad-loan ratio narrowed from the previous quarter.

Standalone net profit, not including contributions from subsidiaries, jumped to 28.15 billion rupees ($433.44 million) for the three months to March 31 from 12.64 billion rupees a year earlier.

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