SBI net profit surges 67% to record Rs 7,627 crore in Sept quarter

The country’s largest lender State Bank of India (SBI) reported a 67 per cent year-on-year (YoY) jump in net profit at Rs 7,627 crore in the July-September quarter (Q2 of FY22), aided by lower loan loss provisions.

This is the highest ever quarterly net profit for the bank. In the year-ago period, it had posted a net profit of Rs 4,574 crore.

Net interest income of the lender jumped 10.65 per cent YoY to Rs 31,184 crore from the same period last year. Sequentially, it was up 12.83 per cent. Domestic net interest margin, a measure of profitability, stood at 3.5 per