|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||271.10 - 274.75|
|52-week range||232.35 - 351.30|
|PE ratio (TTM)||27,330.00|
|Earnings date||9 Aug 2018 - 13 Aug 2018|
|Forward dividend & yield||2.60 (1.11%)|
|1y target est||334.24|
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...
Shares of State Bank of India (SBI) extended its gaining streak for the second straight session today, rising nearly 4 percent, amid positive guidance by the company.
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.
State Bank of India, the country’s largest lender by assets, joined its private peers in shrugging off losses as investors believe the lenders have finally got a handle on bad loans. A similar contrarian market reaction was seen after No. 2 private lender ICICI Bank Ltd. and smaller rival Axis Bank Ltd. reported poorer-than-expected earnings. “The fact that State Bank has booked the losses like Axis Bank is heartening for investors,” Gopal Sharma, head of institutional sales at Inventure Growth & Securities Ltd., said by phone.
The country's largest lender SBI is reportedly preparing a debt restructuring and take over for stressed power assets in order to attract new owners
SBI's stand on the cash crunch disregards ground realities. The bank's economists are probably playing to the government's tune.
At present, 4.78 lakh of the total 6.08 lakh PoS machines are enabled to dispense cash to bank customers free of charge.
Edelweiss is bullish on State Bank of India has recommended Buy rating on the stock with a target price of Rs 414 in its research report dated March 19, 2018.
New Delhi, March 15 (IANS) The country's largest public sector bank State Bank of India (SBI) on Thursday clarified that the number of accounts closed in the bank is higher this year due to the merger and it has nothing to do with maintenance of minimum balance. "Customers who are not able to maintain average monthly balance have the option to get their Regular Savings Bank accounts converted to BSBD accounts free of charge. Effective April 1, 2018, the service charges for non-maintenance of average monthly balance have been reduced by 75 per cent which has been very well appreciated by customers of the bank," it added.
March 5 (Reuters) - Punjab National Bank: * SBI HONG KONG SAYS DOES NOT HAVE ANY EXPOSURE AGAINST ANY CORPORATES/BANKS BASED UPON LOUS/LCS ISSUED BY PNB, BRADY HOUSE BRANCH * SBI HONG KONG BRANCH DOES ...
India’s regulator unearthed about $3.6 billion of bad loans in the books of the country’s biggest bank, amplifying questions about distress in the financial sector given underreporting by some rivals as ...
Chennai, Jan 22 (IANS) The All India State Bank of India Staff Federation (AISBISF), the largest staff union in the State Bank of India (SBI), has welcomed the bank's decision to hire over 9,600 freshers as Junior Associates for Customer Support and Sales, said a top leader. The business is increasing and there is a need for more staff," Sanjeev Kumar Bandlish, General Secretary of AISBISF, told IANS. Bandlish is also the General Secretary of the National Confederation of Bank Employees (NCBE).
Bank of Baroda, India’s third-largest state-run lender, is seeking to sell unit Nainital Bank Ltd. as it sheds non-core assets to bolster its balance sheet, people familiar with the matter said.
New Delhi, Nov 23 (IANS) State Bank of India (SBI) will unveil the country's first integrated lifestyle and banking digital platform on Friday to be launched here by Finance Minister Arun Jaitley, according to a statement from the public sector bank. YONO, the acronym for 'You Only Need One', will be the first digital banking platform to offer customised products and offers from over 60 e-commerce players by leveraging analytics, besides a range of banking and financial services, the SBI release said here. "In addition..., YONO will also allow customers to meet their lifestyle needs across 14 categories including booking and renting cabs, entertainment, dining experience, travel and stay, medical needs and so on," it said.
State Bank of India (SBI) posted quarterly results that indicated the nation's lenders may see a slower build-up of bad loans, but questions remain on how quickly and smoothly they can get rid of $146 billion of such debt that has already piled up. SBI, the nation's top lender with a share of more than fifth of the banking assets, reported on Friday a lower-than-expected profit, but its bad loan additions during the three months to end-September slowed sharply and pushed the overall bad-loan ratio down. Newly appointed SBI Chairman Rajnish Kumar, who took over last month, said they used the cushion from the insurance stake sale to bolster provisions and improve the coverage ratio by 431 basis points in a quarter to 65.1 percent.
State Bank of India (SBI) will open more branches in Nepal and consider options to re-enter Vietnam under a three-year goal to grow its international operations to as much as 15 percent of total business, a senior executive said. India's top lender, with assets of more than $500 billion, was catapulted into the league of the top 50 global banks this year after it merged five subsidiary banks with itself. SBI, which is present in 35 countries but has more than half of its 206 offices in Asia, aims to increase the number of offices in neighbouring Nepal to 100 in the next one year from 88 currently to better tap a market it considers "under-penetrated" for banking, said Siddhartha Sengupta, a deputy managing director who leads the bank's international business.
Mumbai, Oct 30 (IANS) State-run State Bank of India (SBI) on Monday announced the sanction of loans worth Rs 2,317 crore in collaboration with the World Bank to finance grid-connected solar rooftop projects in the country. SBI Chairman Rajnish Kumar told reporters here that it has availed line of credit facilities worth $625 million from World Bank for onward lending to viable solar rooftop projects. "The advantage of giving loan to solar power projects is there is no fuel supply risk unlike other power projects.
Prime Minister Narendra Modi’s government tapped Rajnish Kumar to helm State Bank of India, handing him the task of curtailing a surge in bad debts at the nation’s biggest lender.