State Bank Of India

State Bank of India (SBI), the nation’s biggest lender, is reportedly planning to open around 42 new branches in Odisha this financial year, out of which 15 branches will be opened in January, 2015. The bank has a total of 820 branches in the state with sound regional distribution.

The bank is keen on expanding its services and branches in rural areas of the society. Under the financial inclusion plan, the bank has been given the responsibility of covering 900 gram panchayats by the end of next fiscal.

SBI has registered 30.54% jump in its net profit at Rs 3100.41 crore for second quarter ended September 30, 2014 as compared to Rs 2375.01 crore for the same quarter in the previous year. Total income of the bank has increased 12.46% at Rs 41833.36 crore for Q2FY15 as compared Rs 37199.92 crore for the corresponding quarter previous year.