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India's largest bank SBI reports 7% fall in quarterly profit

BENGALURU, Feb 4 (Reuters) - State Bank of India, the country’s largest lender by assets, reported a 7% fall in third-quarter profit on Thursday, hurt by higher provisions.

Net profit fell to 51.96 billion rupees ($712.73 million) for the three months ended Dec. 31, from a record profit of 55.83 billion rupees reported a year earlier on the back of resolution of some large bad loan accounts. ($1 = 72.9025 Indian rupees) (Reporting by Chris Thomas in Bengaluru; Editing by Shounak Dasgupta)

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