State Bank of India ’s (SBI) first quarter net profit fell 45.7% year-on-year to Rs 1,584 crore, driven by increase in provisions against Rs 2,914 crore in the same period of 2010-11.. This profit was below market expectations.
However, net interest income or NII rose nearly 33% to Rs 9,699 crore, which was better than estimates.
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