|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||276.50 - 283.40|
|52-week range||232.00 - 351.50|
|PE ratio (TTM)||27,755.00|
|Forward dividend & yield||2.60 (1.11%)|
|1y target est||N/A|
As a large-cap stock with market capitalization of ₹2.57T, State Bank of India (NSEI:SBIN) is classified as a major bank. As these large financial institutions revert back to health afterRead More...
Top brokerages welcomed SBI's move to clean up its accounts, recognising large part of its stressed assets that forced the Mumbai-based lender to report a quarterly loss of 77.18 billion rupees ($1.13 billion), the second highest in the country's banking industry. SBI added 336.7 billion rupees of non-performing loans in the March quarter, taking its total to 2.23 trillion rupees, or 10.91 percent of total loans. Deutsche Bank said it sees better future for SBI and expects core business trends to improve consistently from here on.
State Bank of India (SBI) projected a recovery over the next two years after a record 77.18 billion-rupee ($1.13 billion) fourth-quarter net loss following stricter central bank rules around bad loans, sending its shares to a nearly six-week closing high. This year is a year of hope, and next year will be a year of happiness," Chairman Rajnish Kumar, who was named to his position last October, told a news conference at the bank's headquarters after the results. The lender which accounts for more than a fifth of India's banking assets said it aims to grow loans at an annual average of 12 percent through March 2020, nearly halve its gross non-performing loan ratio, bring down provisioning costs and improve margins.