SBI Q1 Results releases and showed more profit

State Bank of India (SBI) has reported a 178.25% YoY increase in net profit, reaching INR16,884.3 crore ($2.3bn), for the quarter ending 30 June, fuelled by higher interest income and lower provisions. India's largest lender has also approved a proposal to raise up to INR14,000 crore in the current financial year through bonds, debentures or other securities. Indian multinational banking and financial services corporation, HDFC Bank, has reported a net profit of INR 14,233.3 crore ($1.9bn) for Q1 2021, up 14.4% YoY, slightly below the INR 14,948.66 crore estimated by analysts. The bank's net interest income was INR 38,904.9 crore, a YoY rise of 24.71%, and its other income rose 421.73% YoY to INR 12,063.4 crore.

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