State Bank Of India

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SBI enters into MoU with Institution of Engineers (India)

Date: 28-12-2015

State Bank of India (SBI) has entered into a memorandum of understanding (MoU) with the Institution of Engineers (IEI) (India). This MoU will streamline banking facilities of IEI and its one million strong memberships. It will facilitate seamless management of fee collection for their examinations, seminars and national events. The MoU will enable IEI to utilise SBI’s robust technology platform.

The bank has 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.