State Bank Of India

State Bank of India (SBI), country’s largest public sector lender is likely to introduce a medium-term notes (bonds) issue worth about $1 billion before August. This bond issue will be mainly for the bank’s overseas operations.

The bank, on standalone basis, reported a 194-fold jump in its net profit to Rs 4050.27 crore for the fourth quarter ended March 31, 2012, against net profit of Rs 20.88 crore for the corresponding period last fiscal. Total income has increased by 27.97% at Rs 33,959.54 crore during the quarter under review from Rs 26,536.84 crore in the year-ago period.