State Bank Of India

State Bank of India (SBI), country’s largest public sector lender, has opened its new ‘sbi in Touch’ branch in Visakhapatnam to offer digital banking facility for its customers. With this branch, the bank has now nine such branches in the country and four in South India. The facilities through these new-age digital branches include instant opening of account, printing and issue of personalised debit card, and expert advice on investment through videoconference. The bank is planning to open five more such branches in the State and 200 across the country by the end of the present financial year.

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.