State Bank Of India

State Bank of India (SBI), the country’s largest public sector bank, has signed a loan agreement with the Japan Bank of International Cooperation (JBIC) to set up an export credit line in two currencies worth $152 million. The loan is co-financed with the Bank of Tokyo-Mitsubishi UFJ (BTMU) which brings the total co-financing amount to JPY 13.5 billion and $21 million approximately.

This credit line will be used by Meja Urja Nigam to finance the procurement of steam turbine generators from Japan's Toshiba Corp and its Indian subsidiary to construct a super critical pressure coal-fired power plant (660 mwx2 units) in Meja, Uttar Pradesh.

The bank’s net profit for the quarter ended June 30, 2014 rose by 3.33% at Rs 3349.08 crore as compared to Rs 3241.08 crore for the quarter ended June 30, 2013. Its total income has increased by 12.56% to Rs 40739.21 crore for the quarter under review from Rs 36192.62 crore for the corresponding quarter of the previous year.