She said earlier the bank spent one percent of the profit on activities under the corporate social responsibilities.
State Bank of India Chairperson Arundhati Bhattacharya today said it would be endeavor of the Group to spend two percent of the annual net profit on CSR activities in each financial year.
She said earlier the bank spent one percent of the profit on activities under the corporate social responsibilities. "It would be our effort to spend two per cent of profit on CSR from this year," she said a State Bank of Bikaner and Jaipur Bank (SBBJ) function organised held to donate a school bus, ambulance, solar panel and a rescue vehicle (for tigers) under CSR.
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"We understand the importance of social responsibilities. We give monetary help to organisations which in turn give their valuable time for conducting social welfare activities," she said. The ambulance and the bus were donated to JW Global hospital and research center of Mount Abu and Rajmata Gayatri Devi Baal Niketan (school) of Jaipur respectively whereas the rescue vehicle was donated to an NGO working for the protection of tigers in Ranthambore.
A solar panel was also donated by the SBBJ to Akshya Patra foundation which will be used in setting up a solar kitchen for preparing food for children. A senior official informed that the SBBJ spent Rs 7.20 crore on CSR during the FY'2013-14.
SBI stock price
On June 02, 2014, State Bank of India closed at Rs 2644.20, up Rs 102.30, or 4.02 percent. The 52-week high of the share was Rs 2833.85 and the 52-week low was Rs 1452.90.
The company's trailing 12-month (TTM) EPS was at Rs 145.88 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 18.13. The latest book value of the company is Rs 1471.22 per share. At current value, the price-to-book value of the company is 1.80.
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