State-owned State Bank of India registered a net profit of 23,038 crore rupees for the September quarter of the current financial year. The bank recorded a 14 percent growth in its profit compared to the corresponding period of the previous financial year.

Financial performance in September quarter

During the September quarter, the net interest income of the bank increased to 49,142 crore rupees. In this period, the net NPA ratio of the bank declined to 0.36 percent.

The Mumbai-headquartered bank has a total government shareholding of 55.5 percent. The bank was established on 1 July 1955.