State Bank Of India

State Bank of India (SBI), the country’s largest lender, has received shareholders' approval for raising Rs 5,393 crore by issuing preferential shares to the government. With the issuance of 19.65 crore shares, the government's holding in SBI will increase from existing 59.15% to 60.18%. The shareholders' nod for issuance of preferential shares was received in a meeting held on September 24, 2015. The bank has already fixed issue price of Rs 274.37 per share of face value of Re 1 each.

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.