New Delhi, Nov. 4 -- State Bank of India (SBI), the country's largest public sector lender, reported its September quarter results on November 4, posting a higher-than-expected profit. The bottomline was driven by one-off gains and strong credit growth, aided by increased retail spending during the festive season.

The PSU bank reported a net profit of Rs.20,160 crore in Q2, a 10% year-on-year improvement compared to Rs.18,331 crore in the July-September quarter a year ago. In September, the lender completed a 13.2% stake sale in Yes Bank to Sumitomo Mitsui Banking Corporation for Rs.8,889 crore.

The net interest income (NII) during the period increased to Rs.1,19,654 crore from Rs.1,13,871 crore in the same quarter a year ago. The net i...