State Bank Of India

State Bank of India (SBI), the country’s largest public sector bank is reportedly planning to open 20 more branches in Odisha by the end of calendar 2014. Recently, the bank had opened 15 branches, taking its network to 799 in the state. Of the 15 branches, 8 branches have opened in gram panchayats that have no access to banking services.

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.