MoneyWorks4Me

State Bank of India unveils ‘State Bank Xpress Money Card’

08 Jul 2013 Evaluate

State Bank of India (SBI), country’s largest public sector lender, in partnership with UAE Exchange and Financial Services has unveiled ‘State Bank Xpress Money Card’ which will allow the holder to receive the remittance directly on the card. This new card can be loaded with up to Rs 50,000 and a maximum of 30 remittances can be loaded during a calendar year. Further, the card can be used for cash withdrawals from any bank ATM, transactions at point of sale (PoS) and e-commerce transactions. At present the card will be issued free of cost through all the branches of UAE Exchange and Financial Services situated in Kerala.

For the year ended March 31, 2013, the bank’s net profit surged by 20.48% at Rs 14104.98 crore as compared to Rs 11707.29 crore for the year ended March 31, 2012. Bank’s total Income has increased by 12.26% to Rs 135691.94 crore for the year under review from Rs 120872.90 crore for the previous fiscal.

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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