Shares of India’s Top Lender Slump on Interest-Income Miss

State Bank of India’s shares dropped sharply, posting their biggest decline in nearly two years, after the nation’s top lender by assets reported weaker-than-expected net interest income.

Net interest income came in at 443.8 billion rupees ($4.7 billion) for the quarter ended March 31, missing analysts’ estimates of 467.45 billion rupees. The stock closed 6.7% lower on Friday, its biggest drop since June 2024.