The country’s largest lender, State Bank of India, on Tuesday reported a 10 per cent year-on-year (y-o-y) rise in net profit for the quarter ended September at ₹20,160 crore. This was led by one-time gain of ₹4,593 crore following SBI’s stake sale in YES Bank.

In September, SBI divested its 13 per cent stake in YES Bank to Japanese lender Sumitomo Mitsui Banking Corp (SMBC) for ₹8,889 crore. SBI continues to hold around 11 per cent stake in YES Bank currently and is yet to consider further stake sale in YES, per management.

Core business

SBI’s net interest income (NII) or core income was up 3 per cent y-o-y at ₹42,984 crore, while other income was up 30 per cent to ₹19,919 crore, boosted by the one-time gain of YES Bank stake sale. Net interest margin (NIM) was also up 7 basis points (b

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