State Bank Of India

State Bank of India (SBI), country’s largest public sector lender, has opened its first branch in Seoul, South Korea. The branch is expected to play an important role in strengthening economic partnership between the two nations. The branch shall also reach out to retail customers through offering of saving and current account facilities, term deposits and remittances. 

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.