"We've repatriated Rs 485 crore profits from our global operations that contribute close to a quarter of our business. As far as I can recall, this is the first time in our history that we have taken out profit from overseas operations," SBI chairperson Arundhati Bhattacharya told reporters while announcing a market beating set of Q2 numbers.
She was quick to add that if at all Rs 485 crore is excluded, we would have still reported a 15 per cent healthy rise in profits as other heads of non-interest income and interest income too reported healthy growth.
Bhattacharya said, "this Rs 485 crore has definitely helped us in reporting higher profit. Even if you take that out, we've a 15 per cent rise, thanks to rise in loan book and our higher income from treasury operations which has gone up".
When asked whether the bank's going forward will continue to bring in profits from its overseas operations, she said, "I do expect some more money to flow in Q3. We are sure we don't want to keep the money parked with the branches idly going forward. But if you ask me if that will the case every quarter, I would say yes in most of the quarters".