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

The country’s largest lender, State Bank of India (SBI), on Tuesday reported a 10 per cent year-on-year (y-o-y) rise in net profit for the quarter ended September at ₹20,160 crore. This was led by an one-time gain of ₹4,593 crore following SBI’s stake sale in YES Bank. In September, SBI divested its 13.18 per cent stake in Yes Bank to Sumitomo Mitsui Banking Corp (SMBC) for ₹8,889 crore.SBI’s net interest income or core income was up 3 per cent y-o-y at ₹42,984 crore, while other income was up 30 per cent t ...