SBI net profit falls 34.56% in September quarter
State-run lender State Bank of India (SBI) on Friday reported a 34.56% year-on-year drop in net profit to ₹2,538 crore for the quarter ended September. This was attributed to a rise in provisions for bad loans, which almost doubled. “As soon as corporate stress recedes, you will start seeing the strength of our balance sheet,” Chairman Arundhati Bhattacharya said.