State Bank of India Q2 net up 40 per cent

The bank had a standalone net profit of Rs 1,611.42 crore in the September quarter last year.

Meanwhile, SBI has doubled its business to Rs 108,881 crore in the September quarter this year.

The bank registered a deposit growth of 67.93 per cent to Rs 57861 crore. Its current and savings account CASA ratio was up by 26 basis points to 39.71 per cent. Advances of the bank grew by 162.35 per cent to Rs 51,020 crore.

Besides, home loans grew by 23.47 per cent, auto loans by 30.48 per cent and education loan by 43.81 per cent, the bank said. However, SBI card suffered a loss of Rs 27.90 crore.

Capital adequacy ratio as per BASIL I norms was 12.14 per cent and as per BASIL II norms it is 11.51 per cent.

The standalone total income rose to Rs 17,909.64 crore in the second quarter, from Rs 13,658.22 crore a year ago.

The consolidated net profit grew 11.50 per cent at Rs 2,458.04 crore for the second quarter as against Rs 2,204.56 crore last year, while the total income rose 26.41 per cent to Rs 27,083.47 crore.

For the six months ended September 30, SBI reported a consolidated net profit of Rs 4,138.06 crore, against Rs 4,128 crore in the year-ago period.

Shares of SBI were trading at Rs 1038, down 10.23 per cent in afternoon trade on the BSE.