State Bank of India, country’s largest public sector lender has decided to leave the interest rates unchanged. As part of a festive offer, the bank had already cut lending rates to a low of 10.25% on home loans and 10.50% for auto loans, which is valid till the end of December. Earlier in mid-September it had slashed rates by 0.25% following the CRR cut in the mid-quarter policy review.
The bank has reported 30.16% rise in its net profit at Rs 3658.14 crore for the quarter as compared to Rs 2810.43 crore for the same quarter in the previous year. Total income of the bank has increased by 12.11% at Rs 32953.47 crore for quarter under review as compared to Rs 29394.32 crore for the quarter ended September 30, 2011.
