Mumbai: State Bank of India, the country's biggest lender, posted a 30 percent gain in quarterly net profit, the smallest increase this year, as higher provisioning for bad loans constrained earnings growth.

Net profit rose to 36.58 billion rupees (USD671.13 million) for the quarter ended September from 28.1 billion rupees a year earlier, the bank said on Friday.

Analysts, on average, had expected a net profit of 35.69 billion rupees, according to Thomson Reuters I/B/E/S.

Non-performing loans increased to 5.15 percent of total assets at end-September, compared with 4.19 percent a year earlier.

(Agencies)

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