State Bank Of India

In a bid to meet capital and regulatory requirements under Basel III norms, State Bank of India (SBI) is planning to monetise non-core assets and unlisted entities. The bank is looking to divest its stake in its both life and general insurance ventures. In SBI Life Insurance the state-run bank is looking to shed 10% stake, while in SBI General it is open to bring stake down to 51% from existing 74%.

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.