SBI Posts Higher Q2 Profit and Boosts Cybersecurity
State Bank of India reported a higher second-quarter net profit of 230.38 billion rupees driven by robust loan growth and expanded margins. The lender also pledged to strengthen cybersecurity measures following a recent customer data breach.
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STATE BANK OF INDIA posted a net profit of 230.38 billion rupees ($2.43B) for the quarter ended September 30, up 14.3% from 201.60 billion rupees a year earlier. The quarterly expansion was powered by robust loan growth, wider margins, and a stake sale gain. The lender pledged to bolster cybersecurity following a recent data breach affecting thousands of customer records.
