Sunday, November 1, 2009
State Bank of India Q2 net up 10.2 pc
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The bank, which along with its associates controls almost a quarter of Indian bank loans and deposits, said on Saturday its July-September net profit rose to Rs 24.9 billion($530.2 million) from 22.6 billion rupees a year earlier.
That met a poll of brokers who forecast a profit of Rs 24.6 billion for the period.
Closest rival ICICI Bank said on Friday its quarterly net profit rose 2.6 per cent, beating forecasts.
Shares in State Bank, valued at $31.5 billion, rose 26 percent in July-September, beating a 20 per cent rise in the sector index and an 18 per cent gain on the benchmark index.
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