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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)

SBI to raise up to 111 bln rupees additional tier 1 capital
Wednesday, 24 Aug 2016 01:51am EDT 

State Bank of India : Committee authorises bank to raise upto 111 billion rupees .  Full Article

India's Ministry of Shipping says banks, JNPT sign agreement
Monday, 22 Aug 2016 08:49am EDT 

India's Ministry of Shipping: Jawaharlal Nehru Port Trust to sign agreement with bankers for external commercial borrowing . Borrowing by JNPT is for door-to-door tenor of 7.5 years . Signed deal with State Bank of India, Development Bank of Singapore for external commercial borrowing to tune of $400 million .  Full Article

SBI approves schemes of acquisition of State Bank of Patiala, State Bank of Hyderabad
Friday, 19 Aug 2016 01:30am EDT 

State Bank of India : Board has also approved separate schemes of acquisition of State Bank of Patiala and State Bank of Hyderabad by SBI .  Full Article

State Bank of India approves scheme of acquisition of associate banks, Bharatiya Mahila Bank
Thursday, 18 Aug 2016 07:07am EDT 

State Bank of India : Approved scheme of acquisition of SBBJ, State Bank Of Mysore, State Bank Of Travancore, and Bharatiya Mahila Bank by SBI . Approves scheme of allotment of 22 equity shares of SBI for 10 shares of SBM . Scheme provides for allotment of 22 equity shares of INR 1 each of SBI for every 10 equity shares of INR 10 each of SBT . Approved scheme of allotment of 44.2 million shares of SBI for every 1 billion shares of BMBL . Scheme provides allotment of 28 equity shares of INR 1 each of SBI for every 10 equity shares of INR 10 each of SBBJ .  Full Article

State Bank Of India exec says co will achieve credit growth guidance
Friday, 12 Aug 2016 05:16am EDT 

State Bank of India : Exec says watch list as of June 310 billion rupees . Exec says will achieve credit growth guidance . Exec says total restructured book 365.51 billion rupees . Further company coverage [SBI.NS] ((Bangalore.newsroom@thomsonreuters.com)).  Full Article

State Bank of India June-qtr profit falls 32 pct
Friday, 12 Aug 2016 03:00am EDT 

State Bank of India : June-quarter PAT 25.21 billion rupees . Says June-quarter standalone interest earned 415.94 billion rupees . Says June-quarter standalone provisions 74.13 billion rupees . Says June-quarter standalone gross NPA 6.94 percent versus 6.50 percent previous quarter . Says June-quarter standalone net NPA 4.05 percent versus 3.81 percent previous quarter . Consensus forecast for June-quarter net profit was 25.40 billion rupees . June-quarter last year standalone net profit was 36.92 billion rupees, interest earned was 396.43 billion rupees, provisions was 40 billion rupees . Says provision coverage ratio as on June 30, 2016 was 61.57 percent . The profit alert was first sourced from TV and was later confirmed from a press release at the Bombay Stock Exchange .  Full Article

SBI chairman says passage of GST bill is very welcome
Thursday, 4 Aug 2016 02:07am EDT 

State Bank of India Chairman: SBI chairman's comment on clearance of GST bill by the parliament . SBI chairman says "the structural transformation of GST in the long term will be enormous & as such the passage of the bill is very welcome" .  Full Article

SBI signs MOU with Indian Oil as part of its financial inclusion program
Monday, 25 Jul 2016 02:51am EDT 

State Bank of India: SBI signs mou with Indian Oil Corporation to empower Indian farmers . SBI - MOU to engage IOC's Kisan Seva Kendras (KSK) as business correspondents (BCS) of SBI . SBI - MOU to enable KSKs to make banking facilities available in remote parts of country and supplement income by earning revenue on banking transactions .  Full Article

State Bank of India and Brookfield Asset Management announce JV for distress investments
Wednesday, 20 Jul 2016 03:01am EDT 

State Bank of India : SBI and Brookfield Asset Management announce joint venture for distress investments . SBI - Proposed JV will independently evaluate and invest in various stressed assets . SBI - Brookfield will commit approximately 70 billion rupees and SBI up to 5% of total investments into stressed assets . SBI - Proposed JV may, at a later stage, seek participation from other lenders in the identified assets .  Full Article

State Bank Of India says United Forum Of Bank Unions served notice of strike on IBA on July 29
Monday, 18 Jul 2016 05:05am EDT 

State Bank of India : United forum of bank unions served notice of strike on iba; to go on strike at all banks on July 29 . Strike on issue and demand to stop banking sector reform . All India state bank officers' federation and all India State Bank of India staff federation are members of ufbu . It is likely that the bank will be impacted to some extent by the said strike calls .  Full Article

More From Around the Web

State Bank of India says to begin process for life insurance arm IPO

MUMBAI State Bank of India, the nation's top lender by assets, said on Friday it would begin the process for an initial public offering (IPO) of its life insurance arm, with plans to sell a 10 percent stake.