SBI Q1 net profit up 25% at Rs 2,914 cr

The country's largest lender State Bank of India has registered a 25 per cent rise in net profit at Rs 2,914 crore in the April to June quarter of the current fiscal year, as against Rs 2,330 crore in the corresponding period of the previous fiscal. HT reports.

The country's largest lender State Bank of India has registered a 25 per cent rise in net profit at Rs 2,914 crore in the April to June quarter of the current fiscal year, as against Rs 2,330 crore in the corresponding period of the previous fiscal.

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The bank's shares shot up by 6.9 per cent to settle at Rs 2,784 on the BSE, driven by the stellar results. It jumped over 7 per cent intra-day to touch an all-time high of Rs 2,797.80.

The bank's fee-based income grew by 29.4 per cent year-on-yea, O.P. Bhatt, chairman, SBI said. The bank would soon review interest rates on deposits and credit, he said. "We will review our interest rate now that the quarterly results are out. It will be by at least 25 basis points."