State Bank net profit up 42 percent

Thursday, 30 July 2009, 10:27 Hrs
Printer Print Email Email
Mumbai: India's largest lender State Bank of India (SBI) Thursday reported a 42 percent rise in net profit to 2,330.37 crore ($481 million) in the first quarter of this fiscal compared to 1,640.79 crore in the like period last year.

SBI, which has around 12,000 branches, controls about a quarter of the total loans and deposits in the country.

The bank has lowered its benchmark prime lending rate from 12.25 percent to 11.75 percent effective June 29.
Source: IANS
SPOTLIGHT
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..