State Bank of India (SBI) has reported a 28.21 per cent growth in its net profit at Rs 787.05 crore in the third quarter ended December 31, 2002 as against Rs 613.89 crore in the corresponding quarter of 2001-02.
In the nine months ended December 31, 2002, the bank has registered a 30.37 per cent increase in net profit at Rs 2,367.45 crore as against Rs 1,815.93 crore in the year-ago period. Analysts expect the bank to clock around Rs 3,200 crore profit during the fiscal year 2003.
SBI chairman AK Purwar said the net NPA has come down from 5.68 per cent to 4.69 per cent on year-on-year basis.