State Bank Of India

As a part of its 2020 digital transformation strategy, State Bank of India (SBI), country’s largest public sector lender, is planning to bring its 44.7 crore customers on mobile banking and digital wallet platforms. This digitisation will help the customers to carry out banking using self-service available on omnichannels at any time of their busy day. The strategy involves digitising all processes, implementing green banking and upgrading the legacy network to offer speedy services to customers of the state-run bank. The bank is also planning to declutter its branch network which currently stands at over 16,415 and enhance financial inclusion in an effective manner via its digitisation plan.

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.