SBI announced solid Q 3 results

Thebullishtrends: State Bank of India shares are trading at Rs.2458. SBI announced very good Q 3 results. The bank's net profit rose 69.82% to Rs.1808.64 cr for the December 31st quarter end as against 1065.06 cr last year in the same quarter. The Bank's total operating income rose 30.10% to Rs. 12666.81 cr as against 9735.94 cr in the same period of the last year.

SBI announced after the trading hours of yesterday that the bank has decied to acquire a majority stake in Global Trade Finance Ltd a company owned by Export and Import Bank of India (Exim Bank) at an aggregate amount of Rs.520.44 crores