State Bank of India , India
The state-run bank, which raised $4.1 billion in a rights issue in March, said its net profit in January-March, its fiscal fourth quarter, rose to 18.83 billion rupees ($462 million) from 14.93 billion rupees reported a year earlier. A Reuters poll of analysts had forecast a 13 percent rise in March quarter earnings to 16.9 billion rupees.
State Bank, which has 10,000 branches acrossIndia
The bulk of its funds come from savings bank deposits that cost about 3.5 per cent in annual interest payments. Last month its closest rival, ICICI Bank, posted a forecast beating 39 per cent rise in quarterly profits on lower cost of funds and operating expenses.
Shares in State Bank had fallen 28.5 percent in the March quarter, faring worse than a 23 per cent drop in the main share index but better than a 32 per cent slump in the banking sector index.
Resources - economictimes.comThe state-run bank, which raised $4.1 billion in a rights issue in March, said its net profit in January-March, its fiscal fourth quarter, rose to 18.83 billion rupees ($462 million) from 14.93 billion rupees reported a year earlier. A Reuters poll of analysts had forecast a 13 percent rise in March quarter earnings to 16.9 billion rupees.
State Bank, which has 10,000 branches across
The bulk of its funds come from savings bank deposits that cost about 3.5 per cent in annual interest payments. Last month its closest rival, ICICI Bank, posted a forecast beating 39 per cent rise in quarterly profits on lower cost of funds and operating expenses.
Shares in State Bank had fallen 28.5 percent in the March quarter, faring worse than a 23 per cent drop in the main share index but better than a 32 per cent slump in the banking sector index.
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