State Bank of India has informed BSE that the Government of India has issued the 'Acquisition of SBICI Bank Order 2011' vide Order dated July 29, 2011. The said Order has been issued pursuant to sub-section (2) of Section 35 of the State Bank of India Act, 1955 (23 of 1955).
In terms of the said Order, the entire undertaking of SBICI Bank stands transferred to and vests in the State Bank of India from the date of publication in the Gazette, i.e. from July 29, 2011.
State Bank of India has announced the following results for the quarter ended September 30, 2011
The Unaudited results for the Quarter ended September 30, 2011
The Bank has posted a net profit of Rs. 28104.30 million for the quarter ended September 30, 2011 where as the same was at Rs. 25013.70 million for the quarter ended September 30, 2010. Total Income is Rs. 293943.20 million for the quarter ended September 30, 2011 where as the same was at Rs. 238133.00 million for the quarter ended September 30, 2010.
The Consolidated Results are as follows :
The Unaudited consolidated results for the Quarter ended September 30, 2011
The Group has posted a net profit after minority interest of Rs. 34704.30 million for the quarter ended September 30, 2011 where as the same was at Rs. 23639.50 million for the quarter ended September 30, 2010. Total Income is Rs. 412490.80 million for the quarter ended September 30, 2011 where as the same was at Rs. 379254.40 million for the quarter ended September 30, 2010.
Consequent to the notification of the 'Acquisition of State Bank of India Commercial & International Bank Ltd Order, 2011' issued by the Govt. of India, the undertaking of State Bank of India Commercial & International Bank Ltd. (SBICI) stands transferred to and vests in State Bank of India ('the Bank'), with effect from July 29, 2011, the effective date. The results for the quarter and six months ended September 30, 2011 include the results of operations of the erstwhile SBICI for the period from July 29, 2011 to September 30, 2011 and the results of the Bank are not comparable to that extent.
(As Per BSE Announcement Dated on 09.11.2011) | Powered by Capital Market - Live News |
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