<p>Mumbai: State Bank of India, the country's largest lender, reported an 8 per cent increase in net profit for the July-September quarter on Saturday, helped by healthy core lending income and robust loan growth.</p><p>The state-run lender's net profit rose to Rs 14,330 crore in its fiscal second quarter, from Rs 13,265 crore a year ago.</p><p>That was slightly higher than analysts' estimate of Rs 14,183 crore, according to LSEG data.</p><p>Net interest income - the difference between a bank's interest earned and paid - rose 12.3 per cent to Rs 39,500 crore from Rs 35,183 crore a year ago.</p><p>Net interest margin - a key gauge of lenders' profitability - shrank to 3.43 per cent, compared with 3.55 per cent a year ago, and 3.47 per cent in the prior quarter.</p><p>SBI's loans grew by 12.4 per cent year-on-year, while deposits grew 11.9 per cent.</p><p>Indian banks have consistently clocked double-digit loan growth over the past few months due to rising demand for credit, aided by increased consumer spending.</p><p>The ongoing festive season is expected to further boost customer spending, helping sustain the demand for retail loans.</p><p>SBI's gross non-performing assets (NPA) ratio was at 2.55 per cent as of end-September, compared with 2.76 per cent at the end of June.</p><p>Its net NPA ratio stood at 0.64 per cent at the end of the quarter, compared with 0.71 per cent at the end of the prior quarter.</p>
<p>Mumbai: State Bank of India, the country's largest lender, reported an 8 per cent increase in net profit for the July-September quarter on Saturday, helped by healthy core lending income and robust loan growth.</p><p>The state-run lender's net profit rose to Rs 14,330 crore in its fiscal second quarter, from Rs 13,265 crore a year ago.</p><p>That was slightly higher than analysts' estimate of Rs 14,183 crore, according to LSEG data.</p><p>Net interest income - the difference between a bank's interest earned and paid - rose 12.3 per cent to Rs 39,500 crore from Rs 35,183 crore a year ago.</p><p>Net interest margin - a key gauge of lenders' profitability - shrank to 3.43 per cent, compared with 3.55 per cent a year ago, and 3.47 per cent in the prior quarter.</p><p>SBI's loans grew by 12.4 per cent year-on-year, while deposits grew 11.9 per cent.</p><p>Indian banks have consistently clocked double-digit loan growth over the past few months due to rising demand for credit, aided by increased consumer spending.</p><p>The ongoing festive season is expected to further boost customer spending, helping sustain the demand for retail loans.</p><p>SBI's gross non-performing assets (NPA) ratio was at 2.55 per cent as of end-September, compared with 2.76 per cent at the end of June.</p><p>Its net NPA ratio stood at 0.64 per cent at the end of the quarter, compared with 0.71 per cent at the end of the prior quarter.</p>