State Bank of India surges on plans to install authentication biometric devices

State Bank Of India | Bank - Public | BFSI | BSE: 500112 | NSE: SBIN

14 Mar 2012 Evaluate

State Bank of India is currently trading at Rs. 2352.10, up by 24.45 points or 1.05% from its previous closing of Rs. 2327.65 on the BSE.

The scrip opened at Rs. 2367.00 and has touched a high and low of Rs. 2374.00 and Rs. 2340.00 respectively. So far 107438 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2959.90 on 25-Apr-2011 and a 52 week low of Rs. 1576.00 on 20-Dec-2011.

Last one week high and low of the scrip stood at Rs. 2374.00 and Rs. 2187.00 respectively. The current market cap of the company is Rs. 148948.68 crore.

The promoters holding in the company stood at 59.40% while Institutions and Non-Institutions held 26.58% and 11.17% respectively.

State Bank of India, country’s largest public sector lender is likely to install authentication biometric devices at select branches in the country for preventing manipulation of its core banking solution platform. At the start, the bank intends to install 5,000 such devices. It aims to install them in all its 14,700 branches in the future.

The banks employees will be using these live scan capture devices, single finger capture and authentication biometric device at the front-end in branches in conjunction with a backend, centralized biometric authentication software solution. These will be used as a second factor authentication of the users of the bank's core banking solution, where the primary user authentication will continue to be user ID and password.

SBI has reported a better-than expected net profit of Rs 3,263 crore for the quarter ended December 2011, up 15.38% from Rs 2,828 crore in the corresponding quarter last year. Profits were driven by an improvement in net interest margin which widened to 4.05% from 3.61% a year ago.

SBI Share Price

1019.55 -72.25 (-6.62%)

08-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
SBI	1019.55
PNB	107.20
Canara Bank	134.35
Bank Of Baroda	264.05
Union Bank Of India	166.15
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