SBI logs highest-ever quarterly profit

New Delhi: The country’s biggest bank State Bank of India (SBI) has reported its highest-ever quarterly profit. It earned a profit of 13,265 crore rupees for the second quarter ended on the 30th of September.

The Bank’s quarterly profit is 74 percent higher than the 7,627 crore rupees reported in the year-ago period.

The SBI’s total income rose 14 percent to 88,734 crore rupees in the reported quarter.

The asset quality of the bank also improved with Gross NPAs declining to 3.5 percent this quarter. Similarly, net NPAs also dropped to 0.8 percent.