SBIN.BO - State Bank of India

BSE - BSE Real Time Price. Currency in INR
313.95
-4.05 (-1.27%)
At close: 3:58PM IST
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Previous close318.00
Open320.70
Bid0.00 x 0
Ask313.95 x 0
Day's range313.45 - 321.45
52-week range244.35 - 373.70
Volume977,739
Avg. volume1,473,059
Market cap2.802T
Beta (5Y monthly)0.65
PE ratio (TTM)22.83
EPS (TTM)13.75
Earnings dateN/A
Forward dividend & yieldN/A (N/A)
Ex-dividend date26-May-2017
1y target estN/A
  • Carlyle Group set to make bumper profit from SBI Cards IPO
    Reuters

    Carlyle Group set to make bumper profit from SBI Cards IPO

    SBI Cards and Payment Services, the credit card arm of State Bank of India (SBI), aims to raise roughly 90 billion rupees ($1.25 billion) in an initial public offering, according to a source familiar with the matter, in a deal set to make a bumper profit for U.S private equity firm Carlyle Group. SBI Cards is 74% owned by SBI, India's largest lender, while Carlyle Group owns the remaining 26%, a stake which it bought in 2017 from the lending arm of General Electric for about 20 billion rupees. SBI will divest 4%, while Carlyle is set to sell a 10% stake as part of the IPO process, which will also include a sale of fresh equity worth 5 billion rupees, according to a draft prospectus published by the book runners of the deal.

  • SBI profit beats on higher interest income, better asset quality
    Reuters

    SBI profit beats on higher interest income, better asset quality

    State Bank of India (SBI) reported a three-fold jump in quarterly profit and beat market expectations on Friday as asset quality at the country's largest lender improved, sending shares up more than 7%. The Mumbai-based lender's performance is a bright spot in India's banking industry where weak loan growth due to a sluggish economy has compounded the near $150-billion bad loan problem. Earlier this week, Kotak said it was cutting its expectation for full-year loan growth.

  • SBI's credit card business aims to raise $1.1 billion via IPO: source
    Reuters

    SBI's credit card business aims to raise $1.1 billion via IPO: source

    SBI Card & Payments Services Ltd, the credit card subsidiary of State Bank of India (SBI), plans to raise about 80 billion Indian rupees ($1.12 billion) via an initial public offering this year, a senior SBI executive involved in the process said. SBI and SBI Card did not immediately respond to requests for comment. At the end of March 31, 2019, SBI Card, which is 74% owned by SBI and 26% by U.S private equity firm Carlyle Group, had total assets worth 195.93 billion rupees.

  • State Bank of India cuts benchmark lending rates by 15 bps
    Reuters

    State Bank of India cuts benchmark lending rates by 15 bps

    State Bank of India (SBI), the country's largest lender by assets, on Wednesday cut its benchmark lending rates by 15 basis points across all tenors, shortly after the central bank slashed interest rates by a larger-than-expected 35 bps to boost the economy. SBI's one-year marginal cost of fund-based lending rate, or the MCLR, will come down to 8.25% per annum from 8.40% earlier with effect from Aug. 10, SBI said in a statement. The Reserve Bank of India (RBI) cut interest rates for a fourth straight meeting in 2019, taking advantage of mild inflation to expand its effort to boost an economy growing at its slowest pace in nearly five years, but there have been concerns over speedy transmission of these cuts to the economy.

  • Reuters

    State Bank of India seeks bids for Videocon's overseas oil, gas assets

    The State Bank of India has invited bids for overseas oil and gas assets of Videocon Industries Ltd, a newspaper advertisement showed on Monday, as India seeks to recover billions of dollars in loans from the beleaguered private firm. Consumer electronics firm Videocon Industries is one of the most indebted companies in India, with outstanding loans worth around 600 billion rupees ($8.53 billion) from its financial and operational creditors. In October, SBI Caps, the investment banking arm of State Bank of India, was appointed to start the process of valuation and monetisation of the firm's oil and gas assets overseas.

  • State Bank of India warns of muted credit growth, misses quarterly profit estimates
    Reuters

    State Bank of India warns of muted credit growth, misses quarterly profit estimates

    MUMBAI/BENGALURU (Reuters) - State Bank of India (SBI) joined its peers in flagging concerns about tough domestic economic conditions and the stress the auto sector is under, as the country's largest lender by assets missed expectations for quarterly profit. Rivals HDFC Bank Ltd and ICICI Bank Ltd too have warned of the negative impact of India's ongoing economic slowdown, with a slump in auto sales cropping up as a major pain point. Mumbai-based SBI has an exposure of 115 billion rupees to auto dealers, Chairman Rajnish Kumar said during a post-earnings conference call on Friday, but clarified that there was no risk of concentration of stress.

  • Exclusive: SBI tightens lending terms for auto dealers - source, internal memo
    Reuters

    Exclusive: SBI tightens lending terms for auto dealers - source, internal memo

    The State Bank of India (SBI) has tightened lending terms dramatically for auto dealerships, according to a source and an internal memo seen by Reuters, seeking to reduce its exposure to risk from a sector in the midst of a sharp downturn. The shadow banking crisis that began to unfold in India during mid-2018 has deepened this year. In one internal memo for financing dealers selling vehicles made by Hyundai Motor Co's India unit, SBI said it is revising the lending terms because of "growing stress" in the carmaker's portfolio.

  • Jet Airways' lenders approve interim finance plan for the carrier
    Reuters

    Jet Airways' lenders approve interim finance plan for the carrier

    Lenders to Jet Airways agreed on Friday to provide some interim financing to the bankrupt airline to help it cover legal and other costs, as resolution experts look to find a potential buyer. In a regulatory filing, bankruptcy resolution firm Grant Thornton said Jet's lenders had also approved the eligibility criteria for potential buyers. The filing did not say how much interim funding had been approved, but a source familiar with the matter told Reuters the lenders had agreed to provide $10 million.

  • Lenders of bankrupt Jet Airways to attempt to sell carrier again
    Reuters

    Lenders of bankrupt Jet Airways to attempt to sell carrier again

    Lenders to Jet Airways will open bids to sell the bankrupt airline on July 20, as they look to recover about 85 billion rupees ($1.24 billion) of loans, two sources familiar with the matter said on Tuesday. Last month, Jet’s creditors, led by State Bank of India (SBI), took the airline to the bankruptcy court after failing to agree on a revival plan. The airline, grounded since April 17, was admitted to the Mumbai bench of the National Company Law Tribunal on June 20.

  • NCLT admits insolvency plea against Jet Airways
    Reuters

    NCLT admits insolvency plea against Jet Airways

    India's bankruptcy court, the National Company Law Tribunal (NCLT), on Thursday accepted an insolvency petition against Jet Airways Ltd filed by its creditors as they attempt to recover some of their dues. The insolvency process will allow lenders to sell the company as a whole or in parts, laying out a fixed timeline for a resolution around its future. Jet Airways, once India's biggest private carrier, stopped flying in April after running out of cash, leaving thousands without jobs and pushing up air fares across the country.

  • Nifty, Sensex end weaker amid global slowdown worries
    Reuters

    Nifty, Sensex end weaker amid global slowdown worries

    Indian shares settled lower on Wednesday, dented by financial and material stocks such as State Bank of India and JSW Steel Ltd, amid concerns over global recession. Asian shares traded lower as no imminent ...

  • Jet Airways slumps after reports of Etihad's non-binding offer
    Reuters

    Jet Airways slumps after reports of Etihad's non-binding offer

    Shares of Jet Airways Ltd fell as much as 11.4% on Monday after media reports said a buyout offer from Middle Eastern carrier Etihad Airways was non-binding and might not guarantee a deal for the struggling Indian carrier. Etihad, which owns an about 24% stake in Jet, submitted a bid for the airline, the unit of State Bank of India (SBI) overseeing the sale of the stricken carrier said on Friday. The Mint newspaper said https://www.livemint.com/companies/news/etihad-s-bid-for-minority-stake-in-jet-airways-is-non-binding-1557685398391.html on Monday that Etihad wanted a commitment from banks on additional loans once it infuses equity into the company.

  • Etihad submits bid for Jet Airways, eyes minority stake
    Reuters

    Etihad submits bid for Jet Airways, eyes minority stake

    ABU DHABI/MUMBAI/NEW DELHI (Reuters) - Middle Eastern carrier Etihad Airways has submitted a bid for a stake in India's Jet Airways, the unit of State Bank of India (SBI) overseeing the sale of the stricken airline said on Friday. Etihad, which already holds a minority stake in Jet, is interested in re-investing in the airline, subject to certain conditions, a spokesman for the Middle Eastern carrier said earlier on Friday.

  • State Bank of India gets sealed bid for Jet Airways from Etihad
    Reuters

    State Bank of India gets sealed bid for Jet Airways from Etihad

    A unit of State Bank of India, which is overseeing the bidding process for Jet Airways Ltd, said on Friday it had received a sealed bid from Etihad Airways, and it would submit the bid to lenders of the ...

  • Reuters

    SBI misses fourth-quarter profit estimate, provisions up quarter-on-quarter

    State Bank of India (SBI) reported a smaller-than-expected quarterly profit on Friday, partly due to provisions for bad loans that the country's largest lender by assets set aside in the quarter. The Indian banking sector has been plagued by record levels of bad loans for years, and state-run lenders including SBI account for the biggest share of the pile. Net profit came in at 8.38 billion rupees ($120.04 million) for the three months ended March 31, compared with the loss of 77.18 billion rupees reported last year that was caused by a surge in bad loans, SBI said.

  • CNBC

    Don't blame state banks for weakness in India's economy, says the country's largest lender

    Economic activity in India has shown some signs of slowing down in recent months, including a decline in retail car sales and slowing growth in airline passenger traffic. Some signs of weakness have shown up in the India economy in recent months, but the country's state banks are not the culprit behind those issues, the chairman of India's largest lender said Thursday. Several recent indicators pointed to a slowdown in economic activity in India, which is Asia's third-largest economy and one of the fastest-growing in the world.

  • Jet Airways' lenders hope bidding process can save airline
    Associated Press

    Jet Airways' lenders hope bidding process can save airline

    NEW DELHI (AP) — Creditors of India's beleaguered Jet Airways said they were "reasonably hopeful" that a bidding process with potential investors for a controlling stake in the airline would save the company, while airline employees rallied in New Delhi and Mumbai for a government rescue.

  • Reuters

    Timeline: Jet Airways - How the 'Joy of Flying' airline's dreams soured

    Beleaguered carrier Jet Airways halted all operations on Wednesday after its lenders rejected its plea for emergency funding from the airline that was once India's largest private carrier. The airline, ...

  • CNBC

    Jet Airways stock suffers heavy losses after emergency funding doubts

    The carrier has already suspended international operations till April 18. The Indian airline's pilots have gone without salaries for months. Almost twenty percent of the value of Indian airline Jet Airways was wiped away at one stage Tuesday, following uncertainty over lifeline funding needed to keep planes flying.

  • CNBC

    India's Jet Airways cancels all international flights as debt problems deepen

    Jet Airways canceled all international flights on Friday. The Indian airline has run out of cash, forcing pilots to go without salaries for months. The debt-swamped Indian airline Jet Airways has canceled all of its international flights onr Friday.