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| Sunday, 10 July 2005 |
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| News Business Features Editorial
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State Bank of India, Colombo records highest profit Over the last two years, the Sri Lankan operations of the State Bank of India (SBI) have displayed healthy growth, with the balance sheet size at about USD 100 million as on March 31, 2005 a growth of 200% and profit at about USD 1.60 million recording a growth of over 300%. The net non-performing assets (NPA) for Domestic Banking Unit (DBU) and the Foreign Currency Banking Unit (FCBU) has always been less than 1%. SBI has planned for higher growth in terms of business and profitability amidst the emerging challenges in banking and has ambitious plans for growth here. The Bank, plans forays into the retail segment in a big way. To meet the needs of the market, the bank has installed the latest banking technology software. Besides, the bank has started offering internet banking facilities to its customers. |
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