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State Bank of Bikaner reports 24% jump in its Q1 net profit

19 Jul 2011 Evaluate

State Bank of Bikaner and Jaipur has reported unaudited results for the first quarter ended June 30, 2011.

The bank’s profit for the first quarter rose by 24.14% at Rs 128.04 crore as compared to Rs 103.14 crore for the corresponding quarter last year. Total income has increased by 21.41% at Rs 1496.36 crore for the quarter under review from Rs 1232.51 crore for the same quarter last year.

Recently, the bank had increased its base rate by 50 basis points (bps) to 9.75% per annum from its existing 9.25% per annum. The bank has also increased its Benchmark Prime Lending Rate (BPLR) by 50 bps and will be 14.75% per annum from its existing 14.25% per annum with effect from July 11, 2011.

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