Lending lender State Bank of India (SBI) on Friday reported a net profit of Rs 3,955 crore year-on-year for the third quarter of 2018-19.

The bank had reported a net loss of Rs 2,416 crore during the corresponding period of the previous fiscal, whereas the net profit for Q2 2018-19 stood at Rs 945 crore.

The banking major's net interest income grew by 21.42 per cent to Rs 22,691 crore during the quarter ended December 31, 2018, compared to Rs 18,688 crore in the corresponding period of the previous fiscal.

As per a statement from the bank, total provisions for the quarter under review declined by 38.82 per cent to Rs 8,670 crore, compared to Rs 14,171 crore in Q3FY18.

--IANS

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