State Bank Of India

State Bank of India (SBI), the country’s largest public sector bank is reportedly planning to add 26,500 ATMs in the next 5 months to take the total count to 65,000, which will strengthen the ATM network of the country's biggest lender and its five associate banks. The bank will set up 7,800 ATMs under its own brand, while 17,200 will be brown-label ATMs, which will be managed by a third-party vendor. ATMs provide customers an alternative channel to withdraw cash and allow branches to focus on customers requiring other services like loan or demand draft.

On the consolidated basis, SBI 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.