State Bank Of India

State Bank of India (SBI), the country’s largest public sector bank has inked a Loan Agreement with The Export- Import Bank of Korea (Korea Eximbank) for a Line of Credit. Under this agreement, SBI will avail a $200 million revolving Line of Credit from Korea Eximbank.

This Line of Credit (Interbank Export Loan) will be utilized by SBI to finance the foreign currency requirements of Indian companies importing Goods and Services from Korea.

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