SBI's Q2 net rises 74% to Rs 13,265 crore on improved interest margins

The lender's net interest income improved 12.83 per cent YoY to Rs 35,183 crore for Q2FY23, against Rs 31,184 crore last year

State Bank of India’s net profit rose by 73.93 per cent year-on-year (YoY) to Rs 13,265 crore in the July-September quarter Q2FY23 on improvement in interest margins and decline in provisions for bad loans.

Country’s largest lender had posted a net profit of Rs 7,627 crore in Q2FY22.

The bank’s stock closed 1.53 per cent higher at Rs 593.75 per share on the BSE on Friday.

Its net interest income improved 12.83 per cent YoY to Rs 35,183 crore for Q2FY23, against Rs 31,184 crore last year. On a sequential basis, it increased 12.78 per cent, from Rs 31,196 crore