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SBI net profit rises 36 p.c. in second quarter

MUMBAI: State Bank of India has reported a 36 per cent rise in its net profit at Rs. 1,611.42 crore in the second quarter ended September 30, 2007 against Rs. 1,184.49 crore.

“For the third successive quarter, we have posted results beyond the expectations of analysts... it is due to a combination of several factors including growth in our fee income,” SBI Chairman and Managing Director O. P Bhatt told reporters here.

Non-interest income of the bank was up 42 per cent at Rs. 2,041.94 crore. Total income went up by 33.42 per cent at Rs. 13,658.22 crore against Rs. 10,237.31 crore. The capital adequacy of the bank was a tad higher at 12.85 per cent. “We are still awaiting the approval of the government on our capital raising plan we are hopeful for a positive reply soon...may be within a week or a month,” Bhatt said. He said the bank will be “happy” to raise any amount between Rs 10,000 and 20,000 crore. — PTI

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