The country’s largest lender, SBI, Thursday  reported a growth rate of 42 per cent in net profit at Rs 2,330.37 crore for the first quarter ended June 30, 2009. The bank has a net profit of Rs 1,640.79 crore in the same quarter of the last fiscal, SBI informed the Bombay Stock Exchange.

Total income during the quarter rose by 29.8 per cent to Rs 21,041.51 crore from Rs 16,203.07 crore in the same period last year.

During the quarter, interest income of the bank grew by 26.6 per cent to Rs 17,473 crore from Rs 13,799 crore in the same quarter previous fiscal.