SBI Q3 net rises to 1099 cr, beats forecast

By siliconindia staff writer   |   Friday, 28 January 2005, 08:00 Hrs
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MUMBAI: India's biggest commercial bank, the State Bank of India beat market expectations with a 20 percent jump in quarterly jump as it announced its Q3 results.

The bank's third quarter net profit has risen to Rs 1099 crore for the quarter ended December 31, 2004, from Rs 919 crore for the quarter ended December 31, 2003.

The income is up to Rs 10200 crore from Rs 8560 crore and other income has surged ahead from Rs 1122 crore to Rs 2238 crore.

SBI has declared an earning per share (EPS) of Rs 20.89, compared to Rs 17.47 earlier.

The third quarter gross bad loans fell to 6.5 per cent from 9.16 per cent, and net NPAs were down to 2.5 percent from 2.8 percent.

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