SBI Q2 net profit rises 10% to ₹20,160 crore, boosted by YES Bank stake sale

Core Insights - The State Bank of India (SBI) reported a 10% year-on-year increase in net profit for the quarter ending September, amounting to ₹20,160 crore, primarily driven by a one-time gain from the sale of its stake in YES Bank [1][2] - SBI divested its 13.18% stake in YES Bank to Sumitomo Mitsui Banking Corp for ₹8,889 crore [1] Financial Performance - SBI's net interest income, which represents core income, rose by 3% year-on-year to ₹42,984 crore [2] - Other income surged by 30% to ₹19,919 crore, significantly influenced by the one-time gain from the YES Bank stake sale [2] - The net interest margin increased to 2.97% in Q2 [2]