State Bank Of India

After launching accounts on Facebook and Youtube, State Bank of India (SBI), country’s largest public sector lender has taken one more step on the social media front by launching a twitter handle. Now, the bank’s customer can access its SBI account via Twitter. The bank expects this Twitter handle to connect better with the tech-savvy young generation.

Meanwhile, the bank has sold non-performing assets (NPAs) worth Rs 4,000 crore in 2013-14 to Asset Reconstruction Companies (ARCs). SBI has total bad assets of Rs 67,799 crore. The bank had reported 5.73% of its assets as bad loans in the October-December quarter.

The bank reported 34.20% fall in its net profit at Rs 2234.34 crore for third quarter ended December 31, 2013 as compared to Rs 3396.06 crore for the same quarter in the previous year. However, total income of the bank increased by 14.91% at Rs 39060.76 crore for quarter under review as compared to Rs 33992.11 crore for the quarter ended December 31, 2012.