State Bank Gains After Reporting Highest Revenue in Seven Years

State Bank of India, the nation’s largest lender, gained in Mumbai trading after reporting its highest net interest income in seven years, bolstered by loan rates that climbed faster than funding costs.

Net interest income, or revenue from borrowers after deducting interest paid to depositors, rose 33 percent to 96.9 billion rupees ($2.14 billion) in the three months ended June 30, according to a statement on Aug. 13. Profit declined 46 percent for the three months ended June 30 to 15.8 billion rupees. That compared with the 20.2 billion rupee median of 26 estimates compiled by Bloomberg.