State Bank of India (SBI), the country’s largest bank has opened its 15,000th branch in state of Tamil Nadu. The Union Finance Minister inaugurated the branch located at Sooranam Village, Sivaganga District in Tamil Nadu on August 17, 2013.
The Finance Minister also distributed loans to beneficiaries for various activities under bank’s schemes. He complimented the bank for opening its 15,000th branch in a short span of 5 years after opening its 10,000th branch in March 2008 in Sivaganga District. The Finance Minister praised the performance of the bank in accomplishing the stipulated norm of lending 15% of its net credit to minorities last year.
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.
The Finance Minister also distributed loans to beneficiaries for various activities under bank’s schemes. He complimented the bank for opening its 15,000th branch in a short span of 5 years after opening its 10,000th branch in March 2008 in Sivaganga District. The Finance Minister praised the performance of the bank in accomplishing the stipulated norm of lending 15% of its net credit to minorities last year.
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.
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