MoneyWorks4Me

State Bank of India to launch SBI signature card

26 May 2012 Evaluate

State Bank of India (SBI) and GE Capital’s joint venture company, SBI Card will be introducing SBI signature card next week. It aims to target high net worth individuals (HNIs) and the very affluent segment, the card applications will be provided on the eligibility concept.

State Bank of India, on the standalone basis, reported a 194 fold jump in its net profit to Rs 4050.27 crore for the fourth quarter ended March 31, 2012, against net profit of Rs 20.88 crore for the corresponding period last fiscal. Total income has increased by 27.97% at Rs 33,959.54 crore during the quarter under review from Rs 26,536.84 crore in the year-ago period.

Peers
Company Name CMP
State Bank Of India 952.80
PNB 114.30
Bank Of Baroda 234.55
Canara Bank 119.00
Union Bank Of India 173.00
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