State Bank Of India

State Bank of India (SBI), the country’s largest public sector bank is reportedly planning to open 85 new branches and 200 new ATM counters in the State of Andhra Pradesh before the end of the current financial year. At present there are 1,359 branches of the bank and 2,911 ATM counters in Andhra Pradesh.  Further, the bank’s agricultural loan portfolio in Andhra Pradesh is highest among SBI circles in the country with about 22 lakh farmers as its customers.

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.