State Bank of India is all set to register a significant financial result in the fiscal year of 2010-11. According to the statement released by the company, it may surpass the figure of Rs 10,000 crore as its net profit for the ongoing financial year.

SBI Chairman O P Bhatt has said that, in this year the net profit of the firm is expected to reach these magic figures. This is going to be another landmark to be achieved by the firm in the banking industry of the country.

It had also posted an excellent net profit in the first quarter of the current fiscal as well.

The bank had registered a 0.4% rise in its net profit in the previous financial year.

It was recorded Rs 9,166.05 crore in the preceding fiscal. In the first quarter of this year, the bank had posted a significant rise of 25% in its net profit. It has touched Rs 2,914.20 crore for the Q1 that ended on 30th June of this year.