MoneyWorks4Me

State Bank of India opens its first branch in South Korea

14 Jan 2016 Evaluate

State Bank of India (SBI), country’s largest public sector lender, has opened its first branch in Seoul, South Korea. The branch is expected to play an important role in strengthening economic partnership between the two nations. The branch shall also reach out to retail customers through offering of saving and current account facilities, term deposits and remittances. 

The bank reported 25.11% rise in its net profit at Rs 3879.07 crore for the quarter ended September 30, 2015 as compared to Rs 3100.41 crore for the same quarter in the previous year. The bank’s total income increased by 12% to Rs 46854.81 crore for the quarter under review from Rs 41833.36 crore for the corresponding quarter of the previous year.

Peers
Company Name CMP
State Bank Of India 940.65
PNB 115.50
Bank Of Baroda 234.10
Canara Bank 117.20
Union Bank Of India 172.95
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