State Bank Of India

State Bank of India, country’s largest public sector lender has introduced its second branch in China in the port city of Tianjin, a major international business hub. The branch was formally inaugurated by Minister of State for Finance Namo Narain Meena. The branch will take the advantage of the growing trade and economic co-operation between the two countries.

The bank has reported 4.08% rise in its net profit at Rs 3396.06 crore for third quarter ended December 31, 2012 as compared to Rs 3263.04 crore for the same quarter in the previous year. Total income from operation of the bank has increased by 14.11% at Rs 33992.11 crore for quarter under review as compared to Rs 29787.37 crore for the quarter ended December 31, 2011.