The State Bank of India, the country’s largest lender, said on Friday it has raised the marginal cost of fund-based lending rates (MCLR) by 0.10 per cent across various tenors.

The benchmark one-year tenor MCLR used for most of the consumer loans such as auto, home and personal, will now be 7.50 per cent, up from the 7.40 per cent previously, the bank said.

The tenor-wise MCLRs are effective from July 15, it added. Among other tenor loans ranging from overnight to sixmonth, the MCLRs have been raised in the range of 7.15-7.45 per cent, up by 0.10 per cent each.

The two-year and three-year MCLRs will now be priced at 7.70 per cent and 7.80 per cent, respectively.

Federal Bank

Federal Bank on Friday reported a 63.5 per cent jump in net profit at Rs 601 crore in the June quarter on a steep decline in money set aside for bad loans.

The South-based lender had reported a net profit of Rs 367 crore in the year-ago period.

Its core net interest income grew 13.1 per cent to Rs 1,605 crore during the reporting quarter on a 16 per cent advances growth and a 0.07 per cent expansion in the net interest margin to 3.22 per cent.

Overall, other income dipped 30.2 per cent to Rs 453 crore, while the operating profit was also down by 14.1 per cent to Rs 973 crore.

Managing director and chief executive Shyam Srinivasan attributed the same to reverses on the treasury operations side as the yields are going up, and added that the bank has tried to improve on other business parameters while trying to restrict impact of the overall markets and rates movements on its investment book.

The profit on sale of securities was Rs 12 crore for the quarter against Rs 394 crore a year ago.