{"id":10855,"date":"2020-07-31T08:58:53","date_gmt":"2020-07-31T08:58:53","guid":{"rendered":"https:\/\/bengalnewstimes.com\/?p=10855"},"modified":"2020-07-31T08:58:53","modified_gmt":"2020-07-31T08:58:53","slug":"state-bank-of-india-q1-profit-zooms-81-on-stake-sale-in-sbi-life-insurance-stock-price-jumps-over-3","status":"publish","type":"post","link":"https:\/\/bengalnewstimes.com\/?p=10855","title":{"rendered":"State Bank of India Q1 profit zooms 81% on stake sale in SBI Life Insurance; stock price jumps over 3%"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"article-image\">\n<figure><img loading=\"lazy\" decoding=\"async\" class=\"lazy lazy-hidden wp-image-2034606 size-large\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/SBI-5-620x413.jpg\" alt=\"SBI, state bank of india\" width=\"620\" height=\"413\" srcset=\"\" sizes=\"auto, (max-width: 620px) 100vw, 620px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"lazy lazy-hidden wp-image-2034606 size-large\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/SBI-5-620x413.jpg\" alt=\"SBI, state bank of india\" width=\"620\" height=\"413\" srcset=\"\" sizes=\"auto, (max-width: 620px) 100vw, 620px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-2034606 size-large\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/SBI-5-620x413.jpg\" alt=\"SBI, state bank of india\" width=\"620\" height=\"413\" srcset=\"https:\/\/images.financialexpress.com\/2020\/07\/SBI-5-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2020\/07\/SBI-5-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2020\/07\/SBI-5-401x267.jpg 401w, https:\/\/images.financialexpress.com\/2020\/07\/SBI-5-440x293.jpg 440w, https:\/\/images.financialexpress.com\/2020\/07\/SBI-5-80x54.jpg 80w, https:\/\/images.financialexpress.com\/2020\/07\/SBI-5-313x209.jpg 313w, https:\/\/images.financialexpress.com\/2020\/07\/SBI-5.jpg 660w\" sizes=\"auto, (max-width: 620px) 100vw, 620px\"\/><\/noscript><\/noscript><span class=\"article-caption\"><a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/state-bank-of-india-stock-price\/\" rel=\"noopener noreferrer\">SBI<\/a> share price surged over 3 per cent after the bank reported an 81 per cent rise in its net profit<\/span><\/figure>\n<\/div>\n<p><a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/state-bank-of-india-stock-price\/\" rel=\"noopener noreferrer\">State Bank of India<\/a> (SBI) reported a whooping 81 per cent on-year rise in standalone net profits at Rs 4,189 crore for the April-June quarter. The Bank had reported a profit of Rs 2,312 crore in the corresponding quarter of the previous fiscal. The profit was lifted by the Rs 1,539.73 crore sale of a certain portion of investment in bank\u2019s subsidiary <a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/sbi-life-insurance-company-ltd-stock-price\/\" rel=\"noopener noreferrer\">SBI Life Insurance Company<\/a>.\u00a0For the quarter under review, SBI made provisions of Rs 12,501.30 crore, against Rs 13,495.08 crore in the quarter ended on March 31, 2020. It was, however, higher than Rs 9,182.94 crore provisions made in the corresponding quarter of the preceding fiscal.<\/p>\n<p>State Bank of India share price surged over 3 per cent to hit day\u2019s high of Rs 194.40 apiece on BSE. In comparison, S&amp;P <a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/tag\/bse-sensex\/\" rel=\"noopener noreferrer\">BSE Sensex<\/a> was down 0.30 per cent at 37,623.<\/p>\n<div class=\"news\">\n<p>Related News<\/p>\n<ul>\n<li><a class=\"click-event\" id=\"Related_widget\" href=\"https:\/\/www.financialexpress.com\/market\/ril-state-bank-of-india-sun-pharmaceuticals-indian-oil-corporation-tata-motors-hdfc-reliance-communications-birla-tyres-stocks-in-focus\/2040634\/\"><br \/>\n<figure><img decoding=\"async\" class=\"lazy lazy-hidden\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/Stock-market-1-300x200.jpg?w=120\" alt=\"\"\/><noscript><img decoding=\"async\" class=\"lazy lazy-hidden\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/Stock-market-1-300x200.jpg?w=120\" alt=\"\"\/><noscript><img decoding=\"async\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/Stock-market-1-300x200.jpg?w=120\" alt=\"\"\/><\/noscript><\/noscript><\/figure>\n<p>Stocks in focus: RIL, SBI, Sun Pharma, Indian Oil, Tata Motors, HDFC, RCom, Birla\u00a0Tyres<\/a><\/li>\n<li><a class=\"click-event\" id=\"Related_widget\" href=\"https:\/\/www.financialexpress.com\/market\/nestle-india-tech-mahindra-sbi-yes-bank-mahindra-finance-itc-united-spirits-kotak-mahindra-bank-stocks-in-focus-ultratech-cement\/2037055\/\"><br \/>\n<figure><img decoding=\"async\" class=\"lazy lazy-hidden\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/1-758-300x200.jpg?w=120\" alt=\"\"\/><noscript><img decoding=\"async\" class=\"lazy lazy-hidden\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/1-758-300x200.jpg?w=120\" alt=\"\"\/><noscript><img decoding=\"async\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/1-758-300x200.jpg?w=120\" alt=\"\"\/><\/noscript><\/noscript><\/figure>\n<p>Stocks in focus: Nestle, Tech Mahindra, SBI, Yes Bank, Mahindra Finance, ITC, United\u00a0Spirits<\/a><\/li>\n<li><a class=\"click-event\" id=\"Related_widget\" href=\"https:\/\/www.financialexpress.com\/market\/sbi-cards-share-price-hits-all-time-high-rallies-over-60-in-less-than-2-months-should-you-buy\/2030404\/\"><br \/>\n<figure><img decoding=\"async\" class=\"lazy lazy-hidden\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/1-485-300x200.jpg?w=120\" alt=\"\"\/><noscript><img decoding=\"async\" class=\"lazy lazy-hidden\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/1-485-300x200.jpg?w=120\" alt=\"\"\/><noscript><img decoding=\"async\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/1-485-300x200.jpg?w=120\" alt=\"\"\/><\/noscript><\/noscript><\/figure>\n<p>SBI Cards share price hits all-time high, rallies over 60% in less than 2 months; should you\u00a0buy?<\/a><\/li>\n<\/ul>\n<\/div>\n<div class=\"common-bottom-text\">\n<p>Get live <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Stock Prices<\/a> from <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/s-p-bse-sensex-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">BSE<\/a>, <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nifty-50-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">NSE<\/a>, <a href=\"https:\/\/www.financialexpress.com\/investing-abroad\/\" target=\"_blank\" rel=\"noopener noreferrer\">US Market<\/a> and latest NAV, portfolio of <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mutual Funds<\/a>, calculate your tax by <a href=\"https:\/\/www.financialexpress.com\/income-tax-calculator\/\" target=\"_blank\" rel=\"noopener noreferrer\">Income Tax Calculator<\/a>, know market\u2019s <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-gainers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Gainers<\/a>, <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-losers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Losers<\/a> &amp; <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/equity-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\">Best Equity Funds<\/a>. Like us on <a href=\"https:\/\/www.facebook.com\/thefinancialexpress\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a> and follow us on <a href=\"https:\/\/twitter.com\/FinancialXpress\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/p>\n<p class=\"telegram-text\"><img loading=\"lazy\" decoding=\"async\" class=\"telegrma_img\" src=\"https:\/\/images.financialexpress.com\/2020\/04\/telegram.png\" alt=\"\" width=\"24\" height=\"24\" style=\"margin: 0px 5px 4px 0px; float: left;\"\/>Financial Express is now on Telegram. <a href=\"https:\/\/t.me\/TheFinancialExpressOnline\" target=\"_blank\" rel=\"noopener noreferrer\">Click here to join our channel<\/a> and stay updated with the latest Biz news and updates.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\\\"https:\/\/www.financialexpress.com\/industry\/banking-finance\/state-bank-of-india-q1-profit-zooms-81-on-stake-sale-in-sbi-life-insurance-stock-price-jumps-over-3\/2040986\/\\\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SBI share price surged over 3 per cent after the bank reported an 81 per cent rise in its net profit State Bank of India (SBI) reported a whooping 81 per cent on-year rise in standalone net profits at Rs 4,189 crore for the April-June quarter. The Bank had reported [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10856,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[36],"tags":[],"class_list":["post-10855","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-business"],"jetpack_featured_media_url":"https:\/\/bengalnewstimes.com\/wp-content\/uploads\/2020\/07\/SBI-5.jpg","_links":{"self":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/10855","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10855"}],"version-history":[{"count":0,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/10855\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/media\/10856"}],"wp:attachment":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10855"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}