SBI expecting 35% growth in Q2 profit
State Bank of India, India’s largest state-owned bank, is expected to witness an increase in net profit of about 30-35% year-on-year in its 2nd quarter. At the end of the first quarter, its net profit grew 42.03% at Rs 2,330 crore, compared to Rs 1,641 crore during the corresponding quarter a year ago.
The SBI chairman, said in a seminar organised by Indian Banks’ Association (IBA) and Federation of Indian Chambers of Commerce and Industry (FICCI), that since July, the bank has witnessed a growth in credit by Rs 5,000 crore a month.
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