SBI targets at Rs 15,000 crore net profit for this fiscal
By Neelima Shankar
Jan 23, 2013
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India's largest lender, State Bank of India has laid an ambition to achieve a net profit of up to Rs 15,000 crore in this financial year, against Rs 11,700 crore net profit in the last fiscal.

SBI Chairman Mr. Pratip Chaudhuri said, "The net profit of the bank during the current financial year is expected to be between Rs 14,000 crore and Rs 15,000 crore".

The profit recorded this year would be much higher than Rs 11,700 crore as registered last financial year, the SBI chief said, adding that the bank targets to retain Rs 7,400 crore profit during the last quarter as recorded in the previous quarter.

On SBI's performance in Odisha, Mr. Chaudhuri said that the bank's advances were Rs 30,375 crore and priority sector advances were 54 per cent, beyond the benchmark of 40 per cent.

The cash-deposit ratio of State Bank of India, which has 695 branches in Odisha, was at a 70 per cent with deposit at Rs 42,989 crore, Mr. Chaudhuri said, adding that SBI was the leading bank in self help group linkage.

SBI had so far achieved credit linkages of 2.66 lakh Self Help Groups aggregating Rs 1750 crore, more than 80 per cent of the linkages of other banks in Odisha, Mr. Chaudhuri said.

Mentioning that the number of SBI branches would soon be increased to 700, Mr. Chaudhuri said of the existing branches, 403 is in rural centres, 158 in semi-urban areas and 134 in urban centres.



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