State Bank Of India

SBI Life Insurance, a joint venture life insurance company between State Bank of India (SBI), and BNP Paribas Assurance, is reportedly planning to hire about 4,000 advisors this financial year to increase ‘high performers’ in business from the Hyderabad region. The bank is also planning to open up a few more offices in the region. The Hyderabad region comprises of both the Telangana and Andhra Pradesh States, and contributes the highest volumes of business in terms of new business and renewal, out of the 14 regions in India.

The bank reported 25.11% rise in its net profit at Rs 3879.07 crore for the quarter ended September 30, 2015 as compared to Rs 3100.41 crore for the same quarter in the previous year. The bank’s total income increased by 12% to Rs 46854.81 crore for the quarter under review from Rs 41833.36 crore for the corresponding quarter of the previous year.