State Bank Of India

State Bank of India (SBI), country’s largest public sector lender, is planning to raise Rs 15,000 crore from the markets within the next 10 months. Further, the bank has decided to set up representative offices in Sao Paulo (Brazil) and Yangon (Myanmar). Operations in Sao Paulo are expected over the next two-three months, while operations in Yangon will start in June. This apart, the bank is also planning to improve its operations in neighbouring Sri Lanka and Bangladesh by deepening its product mix.

The bank has posted a rise of 23.06% in its net profit at Rs 3742.02 crore for the quarter ended March 31, 2015 as compared to Rs 3040.74 crore for the same quarter in the previous year. Total income of the bank has increased by 14.54% at Rs 48616.41 crore for quarter under review as compared to Rs 42443.27 crore for the quarter ended March 31, 2014.