Key Developments: State Bank of India (SBI.BO)

SBI.BO on Bombay Stock Exchange

19 Dec 2014
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Rs-2.80 (-0.91%)
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Latest Key Developments (Source: Significant Developments)

AMW Ties Up With State Bank Of India For Vehicle Finance-Business Line
Sunday, 16 Jun 2013 08:00pm EDT 

Business Line reported that Commercial vehicle maker AMW Motors Ltd said it has tied up with State Bank of India for financing sales of its entire range of vehicles. The national level tie-up through SBI network of over 13,000 branches will provide a big fillip for AMW vehicles, the Company said in a statement. As per the agreement, SBI would offer competitive rates of interest to customers on fully built vehicles, chassis as well as body-building, he added.  Full Article

State Bank Of India Signs MOU With Spanish Bank-Business Standard
Friday, 24 May 2013 11:08am EDT 

Business Standard reported that State Bank Of India has signed an agreement with Spain-based bank Banco Bilbao Vizcaya Argentaria, SA (BBVA), to support business operations of clients of both the banks. The MoU covers a wide range of investment banking products, such as transaction banking, trade finance, ECA finance, bonds, FX and derivatives, the statement said.  Full Article

State Bank Of India Declares Dividend
Thursday, 23 May 2013 03:34am EDT 

State Bank Of India announced that the Central Board at its meeting held on May 23, 2013 has declared a Dividend of INR41.50 per share (415%) for the accounting year ended March 31 2013.  Full Article

State Bank Of India To Raise Around $ 600 Million In External Commercial Borrowings-The Economic Times
Monday, 15 Apr 2013 08:00pm EDT 

The Economic Times reported that State Bank Of India has an external commercial borrowing (ECB) pipeline from corporates of up to $600 million. The amount will get raised in the next three to four months, SBI's Managing Director (International Banking) Hemant Contractor told reporters. An external commercial borrowing (ECB) is an instrument used in India to facilitate access to foreign money by Indian corporations and public sector undertakings.  Full Article

State Bank Of India Announces Issue Of Five Year Bonds
Friday, 12 Apr 2013 08:30am EDT 

State Bank Of India announced that the Bank has concluded the issue of USD1,000 Mio Fixed Rate Senior Unsecured Notes having a maturity of five years at a coupon of 3.25% per annum payable semi-annually, under a standalone bond issue under Rule 144A/Regulation-S of US Securities Exchange Commission (SEC), in the form of 144A/Regulation-S Notes. The Bonds will be issued through its London branch as of April 18, 2013 and shall be listed on Singapore Stock Exchange (SGX).  Full Article

State Bank Of India Announces Appointment Of Statutory Central Auditors
Thursday, 4 Apr 2013 01:00am EDT 

State Bank Of India announced that in terms of Section 41 (1) of the State Bank of India Act, 1955, RBI has approved the appointment of the 14 Statutory Central Auditors (SCAs) for the year 2012-2013 who shall hold office until the next Annual General Meeting of the Bank.  Full Article

State Bank Of India Announces Allotment Of Equity Shares To GOI On Preferential Basis
Wednesday, 20 Mar 2013 05:04am EDT 

State Bank Of India announced that the Executive Committee of the Central Board of the Bank, in its Meeting held on March 20, 2013, has approved the issuance and allotment of 12,988,697 Equity Shares at an Issue Price of INR2,312.78 per share (face value INR10 each, at a premium of INR2,302.78 per share), to GOI by way of preferential allotment.  Full Article

State Bank Of India To Open 1,200 Branches, Eight Overseas Offices-The Economic Times
Monday, 18 Mar 2013 02:02am EDT 

The Economic Times reported that State Bank Of India plans to open about 1,200 branches in the country and another eight branch offices overseas, including China and the UK, in the next fiscal. Plans are afoot to open two branches each in Bangladesh and the UK and one each in China, the Netherlands, South Korea and Sri Lanka, bank sources said. In the case of South Korea, the existing representative office of SBI would be upgraded into a full-fledged branch. The move to open branches in offshore locations is aimed at catering to Indian businesses and Non-Resident Indians. With addition to these eight branches, SBI's offshore network will increase to 59. Under the bank's domestic expansion plans, about 100 branches would be opened in West Bengal, Uttar Pradesh, Tamil Nadu, Maharashtra and Andhra Pradesh.  Full Article

State Bank Of India Announces Notice Of Strike By United Forum of Bank Unions
Monday, 18 Feb 2013 03:43am EST 

State Bank Of India announced that United Forum of Bank Unions (UFBU) has decided to support and join the call for nationwide strike, on the 20th and 21st February 2013 given by Central Trade Unions. All India State Bank Officers' Federation and All India State Bank of India Staff Federation being part of UFBU will also participate in the said strike.  Full Article

State Bank Of India Ties Up With EPC Industrie Ltd-Business Standard
Friday, 15 Feb 2013 07:05am EST 

Business Standard reported that State Bank of India entered into tie-up with EPC Industrie Ltd, part of Mahindra Group to finance farmers for micro irrigation systems. EPC is engaged in manufacturing and selling of micro-irrigation systems, crop management services and agriculture pumps. In the tie-up EPC will help the bank to identify eligible farmers with a requirement for micro irrigation systems, crop management services, agriculture pumps.  Full Article

State Bank of India Q2 profit up 30.5 pct; lags estimates

MUMBAI, Nov 14 - State Bank of India (SBI) , the nation's top lender by assets, reported a 30.5 percent increase in quarterly profit, but lagged estimates as provisions for bad loans increased.

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