State Bank Of India

State Bank of India (SBI), the country’s largest bank, is planning to open 4 more branches and set up 25 more ATMs in Visakhapatnam during the current financial year. Recently, the bank has opened two more branches one at Baji Junction and the other at Seethammadhara in Visakhapatnam. Including this two branches the bank has 75 branches and 167 ATMs in Visakhapatnam.

On the consolidated basis, the group registered 11.82% fall in its net profit after taxes and minority interest at Rs 4298.56 crore for first quarter ended June 30, 2013 as compared to Rs 4874.70 crore for the same quarter in the previous year. However, total income of the bank, on consolidated basis, has increased by 12.23% at Rs 52502.29 crore for quarter under review as compared to Rs 46782.70 crore for the quarter ended June 30, 2012.