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State Bank of India net profit up 45.62 per cent
The country's largest lender State Bank of India (SBI) on Saturday reported a 45.62 per cent rise in its net profit for the quarter ended March 31.
The country's largest lender State Bank of India (SBI) on Saturday reported a 45.62 per cent rise in its net profit for the quarter ended March 31.
The bank said in a regulatory statement that its fourth quarter profit stood at Rs 2,742.31 crore, up from Rs 1,883.25 crore in the like period last year.
SBI's total income in January-March increased 34.57 per cent to Rs 22,060.61 crore from Rs 16,393.93 crore a year ago.
The bank, which accounts for about 25 per cent of all loans and deposits in the country, declared a 290 per cent dividend at Rs 29 per share for fiscal 2008-09 that ended March 31.
SBI's net profit increased 36 per cent to Rs 9,121.2 crore last fiscal, compared to Rs 6,729.1 crore the previous year.
Total income for the fiscal rose 33 per cent to Rs 76,479.2 crore from the previous year's Rs 57,645.2 crore.
Consolidated net profit was at Rs 10,955.2 crore, a 22 per cent increase from Rs 8,960.6 crore in 2007-08.
The group's consolidated net income crossed the trillion rupee mark to Rs 113,093 crore (Rs 1.1 trillion) in 2008-09, 25 per cent up from the previous fiscal's Rs 90,218.8 crore.
