India’s biggest lender SBI reports 41% rise in Q4 profit

Income from interest on loans rose 8.6%, while provisions for bad loans fell by two-thirds to 32.62 billion rupees, the bank said in a filing to exchanges on Friday. State Bank of India (SBI), India's biggest lender, said on Friday its fourth quarter profit rose 41% to 91.14 billion Indian rupees ($1.18 billion), as the state-run bank set aside less money for bad loans.Income from interest on loans rose 8.6%, while provisions for bad loans fell by two-thirds to 32.62 billion rupees, the bank said in a filing to exchanges on Friday.($1 = 77.3100 Indian rupees) Subscribe to our best newsletters Subscribed to newsletter successfully Thank you for subscribing to our Daily News Capsule newsletter. 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