State Bank Of India

State Bank of India (SBI) is planning to sell stake in its insurance units by the end of the year and valuation process for the stake sale has begun. State-run lender has two insurance subsidiaries -- SBI Life Insurance and SBI General Insurance. SBI has partnered with BNP Paribas Cardif to form the life insurance arm -- SBI Life Insurance -- in which the India bank holds 74 per cent. In SBI General Insurance, it owns 74 per cent while Insurance Australia Group holds the remaining stake.

The bank reported 10.25% rise in its net profit at Rs 3692.43 crore for the quarter ended June 30, 2015 as compared to Rs 3349.08 crore for the same quarter in the previous year. Total income of the bank increased by 9.80% to Rs 44730.87 crore for the quarter under review from Rs 40739.21 crore for the corresponding quarter of the previous year.