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MUMBAI Feb 10 State Bank of India, the
nation's top lender by assets, on Friday reported its first jump
in quarterly profit since mid-2015, which also beat analysts'
expectations, helped by lower provisions for bad loans.
Standalone net profit, not including contributions from
subsidiaries or associates, rose 134 percent to 26.1 billion
rupees ($390 million) for the quarter ended December, from 11.15
billion rupees a year ago.
That was above with an average estimate of 24.64 billion
rupees from 23 analysts polled by Thomson Reuters.
SBI, which accounts for more than a fifth of India's banking
assets, saw its gross bad loans as a percentage of total loans
rising slightly to 7.23 percent at the end of December, from
7.14 percent at end-September.
($1 = 66.9150 Indian rupees)
(Reporting by Devidutta Tripathy; Editing by Himani Sarkar)