PW Bureau
India’s largest lender recorded a net profit of Rs 3,955 crore for the third quarter ended December against a net loss of Rs 2,416 crore a year ago
New Delhi: Beating market expectations, State Bank of India (SBI) posted its highest quarterly profit in about seven years on February 1. India’s largest lender recorded a net profit of Rs 3,955 crore for the third quarter that ended December against a net loss of Rs 2,416 crore a year ago. With asset quality improving, SBI, which accounts for more than a fifth of India’s banking assets, set aside lower provisions for bad loans.