State Bank Of India

India Ratings & Research (Ind-Ra) has affirmed AAA (SO) rating to SBI’s Capital Protection Oriented Fund (CPOF) Series-III. The affirmation reflects the ability of the underlying debt investments to return the initial invested amount at maturity on October 9, 2014. The affirmation also reflects the high national credit quality of the underlying assets -mainly issued by the Indian state, high proportion of debt investment and limited interest rate and reinvestment risk.

State Bank of India has reported 35.07% fall in its net profit at Rs 2375.01 crore for the second quarter ended September 30, 2013 as compared to Rs 3658.14 crore for the same quarter in the previous year. However, total income of the bank has increased by 12.88% at Rs 37199.92 crore for quarter under review as compared to Rs 32953.47 crore for the quarter ended September 30, 2012.