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State Bank of India (SBI.BO)

SBI.BO on Bombay Stock Exchange

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Latest Key Developments (Source: Significant Developments)

State Bank of India says ECCB gives approval for entering agreement with CA Rover Holdings
8:27am EDT 

July 21 (Reuters) - State Bank Of India :State Bank of India - ECCB has given approval for entering into shareholder agreement with CA Rover Holdings, who will be new partner in bank's credit card JV.State Bank of India - CA Rovers Holdings shall hold 26 percent stake in SBI Cards and Payments Services and GE Capital Business Process Management Services.  Full Article

SBI Life Insurance files for IPO
Monday, 17 Jul 2017 05:02am EDT 

July 17 (Reuters) - SBI Life Insurance::SBI Life Insurance Company Limited files for IPO.Initial public offer of up to 120 million equity shares.Shares offered through red herring prospectus are proposed to be listed on BSE and NSE.IPO to comprise an offer for sale by State Bank of India and BNP Paribas Cardif S.A. of up to 80 million shares and up to 40 million shares respectively.Among book running lead managers for IPO are JM Financial, Axis Capital, BNP Paribas, Citi Group, Deutsche Equities India.  Full Article

State Bank of India reduces NEFT, RTGS charges up to 75 pct
Thursday, 13 Jul 2017 01:42am EDT 

July 13 (Reuters) - State Bank Of India :Says SBI reduces NEFT & RTGS charges upto 75%.Reduced charges will be applicable on transactions done through internet banking (INB), mobile banking (MB) services offered by bank.Waives IMPS charges for transfer upto 1000 rupees.Says NEFT and RTGS transaction charges table effective from 15th July, 2017 ‍​.  Full Article

State Bank of India approves divestment of stake in SBI Life via IPO
Monday, 10 Jul 2017 06:36am EDT 

July 10 (Reuters) - State Bank Of India ::Says bank's executive committee of central board accorded final approval for divestment of SBI's stake in SBI Life through IPO.Says to sell up to 80 million shares of SBI Life via IPO‍​.  Full Article

Jyoti Structure says NCLT appoints DBO India to manage co in interim
Wednesday, 5 Jul 2017 05:25am EDT 

July 5 (Reuters) - Jyoti Structures Ltd :Jyoti Structures clarifies on news item, 'Jyoti Structures first defaulter to face bankruptcy'.Says SBI, lead banker filed resolution application before NCLT.Says NCLT on July 4 admitted application and appointed BDO India to manage co in interim.  Full Article

State Bank of India says LIC raises stake in co to 10.42 pct
Friday, 16 Jun 2017 02:43am EDT 

June 16 (Reuters) - State Bank of India :Says LIC raises stake in co by 2.34 percent to 10.42 percent.  Full Article

State Bank of India says concluded QIP of 150 bln rupees
Friday, 9 Jun 2017 02:08am EDT 

June 9 (Reuters) - State Bank of India :Says State Bank of India has concluded QIP of INR 150 billion which was launched on 5th June 2017.Says QIP book was oversubscribed and demand exceeded INR 270 billion.Says issue was priced at top end at INR 287.25/ share.Says QIP book saw strong demand from long only FIIs of over INR 80 billion.Says QIP will result in issue of approximately 522.1 million new shares.Says post the issue GOI shareholding in the merged entity will be at 57.07 percent.  Full Article

India's Mawana Sugars says entered into one time settlement with State Bank of India
Friday, 2 Jun 2017 07:29am EDT 

June 2 (Reuters) - Mawana Sugars Ltd :Says agreed to enter into one time settlement with State Bank of India in respect of borrowings from State Bank of Hyderabad.Says to settle debt of State Bank of Hyderabad for a consolidated agreed amount of INR 432.1 million.  Full Article

State Bank of India expects 2017/18 credit costs to remain "elevated"
Friday, 19 May 2017 07:13am EDT 

May 19 (Reuters) - India's State Bank Of India :Exec says entire corporate book of subsidiary banks has been fully aligned with the main bank.Exec says sees slightly elevated credit costs in 2017/18.Exec says credit costs in 2018/19 should definitely be "much much better".Exec says bad loan additions definitely slowing.Exec says should be able to keep a stable outlook on net interest margins.Exec says 65 percent of demonetisation deposits remain in the system.  Full Article

State Bank of India March-qtr profit more than doubles
Friday, 19 May 2017 02:47am EDT 

May 19 (Reuters) - State Bank of India :March quarter standalone net profit 28.15 billion rupees .Consensus forecast for March quarter standalone profit was 28.33 billion rupees.March quarter standalone interest earned 473.93 billion rupees.March quarter standalone provisions 117.40 billion rupees.Declared dividend of 2.60 rupees per share.March quarter standalone gross NPA 6.90 percent versus 7.23 percent previous quarter.March quarter standalone net NPA 3.71 percent versus 4.24 percent previous quarter.Net profit in March quarter last year was INR 12.64 billion; interest earned was INR 429.42 billion; provisions was INR 131.74 billion.Says provision coverage ratio as on Mar 31, 2017 was 65.95 percent.The profit alert was first sourced from TV and was later confirmed from a company press release at the National Stock Exchange.  Full Article

Carlyle affiliate to buy 26 pct in State Bank of India credit cards JVs

July 21 An affiliate of buyout firm Carlyle will buy a 26 percent stake in each of two credit card joint ventures of State Bank of India, the top Indian lender said on Friday.