The largest lender of the country, State Bank of India has announced a 12% rise in net profits for the second quarter of this fiscal. The net profits of the bank for the stand at Rs 2810 crore for Q2 as compared to Rs 2501 crore for the same period last fiscal.
The lender had experienced a huge dip in net profits for the first quarter of this fiscal by as much as 46% to Rs 1584 crore.
Now that the wholly owned subsidiary of SBI, State Bank of India Commercial & International Bank Ltd (SBICI) has been fully taken over by SBI, the Q2 results of the banking major also include the results put by SBICI from the period of Junly 29, 2011 to September 30, 2011.
Total income of the bank has shown a rise to Rs 41249.08 crore for this period.