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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 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

State Bank of India seeks bids from investment banks to manage planned share sale
Tuesday, 9 May 2017 04:33am EDT 

May 9 (Reuters) - State Bank Of India :Seeks bids from investment banks to manage planned QIP/FPO.Says to select and appoint up to 6 merchant bankers for QIP/FPO.Says last date of submission of bids by merchant bankers for managing QIP/FPO is May 22.  Full Article

State Bank of India cuts home loan rate by 25 BPS
Monday, 8 May 2017 04:55am EDT 

May 8 (Reuters) - State Bank Of India :Says SBI reduces home loan rate by 25 BPS.Says SBI home loan reduce from 8.60% to 8.35%.Says SBI has announced rate cut in home loans by 25 basis points to 8.35% per annum.Says new rate will be effective from may 9th, 2017..Says interest rates for customers availing a home loan above Rs. 30 lacs have also been reduced.Eligible home loan customer can also avail of an interest subsidy of INR 267,000 under Pradhan Mantri Awas Yojana Scheme.Says SBI has also come out with special offerings for construction finance to builders for affordable housing projects.  Full Article

SBI Life Insurance Q4 profit rises 31 pct
Wednesday, 3 May 2017 06:16am EDT 

May 3 (Reuters) - SBI Life Insurance::SBI Life net profit grew by 31% to INR 3.36 billion in Q4 of FY 16-17.Says new business premium for FY 16-17 grew by 43% to 101.44 billion rupees.Total assets under management (AUM) has grown by 22% to INR 977.37 billion as on 31 march 2017, from INR 798.28 billion as on 31 march 2016.  Full Article

State Bank of India signs $274 mln deal with German Development Bank KfW
Friday, 10 Mar 2017 04:43am EST 

State Bank of India : Says SBI signs $274 million agreement with German Development Bank KfW to finance affordable housing . Says promotional loan has a maturity of 15 years.  Full Article

State Bank of India Dec-qtr standalone profit more than doubles
Friday, 10 Feb 2017 02:32am EST 

State Bank of India : Dec quarter standalone net profit 26.10 billion rupees . Consensus forecast for Dec quarter standalone profit was 24.64 billion rupees . Dec quarter standalone interest earned 439.26 billion rupees . Dec quarter standalone provisions 89.43 billion rupees . Dec quarter standalone gross NPA 7.23 percent versus 7.14 percent previous quarter . Dec quarter standalone net NPA 4.24 percent versus 4.19 percent previous quarter . Says provision coverage ratio as on Dec 2016 was 62.87 percent .Net profit in Dec quarter last year was 11.15 billion rupees; interest earned was INR 406.44 billion;provisions was INR 79.49 billion.  Full Article

State Bank of India to issue shares to govt on preferential basis
Thursday, 19 Jan 2017 02:07am EST 

State Bank Of India : State Bank of India to issue shares to government on preferential basis .The alert was first sourced from TV and was later confirmed from a company press release at the National Stock Exchange.  Full Article

State Bank of India to waive MDR charges on debit card transactions for small merchants
Monday, 9 Jan 2017 07:00am EST 

State Bank of India : To waive MDR charges on debit card transactions for all small merchants having annual turnover of up to 2 million rupees up to 31-12-2017. Further company coverage: [SBI.NS] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

ANG Industries in talks to monetise certain assets to reduce debt
Friday, 30 Dec 2016 08:18am EST 

ANG Industries Ltd : says unit in question is an export unit and after the proposed sale the company shall be left with 2 other units situated in Sitarganj (Uttrakhand) and SEZ Noida UP . says co, bankers in talks in various joint lender forum meetings to monetise certain assets to reduce debt . clarifies on news item "SBI plans to sell manufacturing plants of ang industries limited" . SBI on behalf of the banks have given mandate to sbi capital markets to find a potential buyer based on Swiss challenge method .any asset sale by company is subject to all the bankers agreeing and hence EOI was taken out to start the process by SBI caps.  Full Article

More From Around the Web

India's SBI set to hire 6 banks for up to $2.3 bln share sale - IFR

MUMBAI, May 26 State Bank of India is set to hire Bank of America Merrill Lynch, Deutsche Bank, IIFL, JM Financial, Kotak and SBI Capital to manage a share sale of up to 150 billion rupees ($2.3 billion), IFR reported on Friday, citing two sources with knowledge of the plan.