State Bank Of India

State Bank of India (SBI), India's largest lender has added Rs 8,161 crore worth of bad loans during the three months ended December 2011. However, the bank beat market expectations with a 15% rise in fiscal third-quarter net profit as interest income rose.

State Bank of India (SBI) reported a better-than expected net profit of Rs 3,263 crore for the quarter ended December 2011, up 15.38% from Rs 2,828 crore in the corresponding quarter last year. Profits were driven by an improvement in net interest margin which widened to 4.05% from 3.61% a year ago.