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State Bank of India Beats Profit Estimate on Robust Loan Growth

Bloomberg.com·Siddhi Nayak, Saikat Das·25 days ago
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A State Bank of India branch in Mumbai.

Photographer: Abeer Khan/Bloomberg

State Bank of India’s shares tumbled the most in three months after the nation’s top lender by assets reported weaker-than-expected net interest income.

Net interest income came in at 443.8 billion rupees ($4.7 billion) for the quarter ended March 31, missing analysts’ estimates of 467.45 billion rupees. The stock slumped as much as 7.4%, set for the biggest drop since Feb. 1.

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