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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 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

SBI says Delhi high court accepts SBI associate banks' plea to restrain banks' strike on July 12, 13
Monday, 11 Jul 2016 09:15am EDT 

State Bank Of India :SBI says Delhi high court accepts SBI associate banks' plea to restrain banks' strike on 12th and 13th July.  Full Article

State Bank of India sells 5 pct stake in NSE
Friday, 1 Jul 2016 08:44am EDT 

State Bank of India : Co advise having sold 5% stake in National Stock Exchange of India Limited to Veracity Investments Limited for INR 9.11 billion .  Full Article

Reliance Industries says RIL and SBI to set up payment's bank
Friday, 1 Jul 2016 07:28am EDT 

Reliance Industries Ltd : Ril and sbi execute the subscription and shareholders agreement for setting up payment's bank . Payments bank will work towards digitising payments . Agreement signed by ril as promoter with 70 percent equity contribution and sbi as jv partner with 30 percent equity contribution . Payments bank will work towards promoting digital savings and investment products .  Full Article

SBI partners with Flipkart to offer 'pre-approved EMI' for consumers
Friday, 1 Jul 2016 07:26am EDT 

State Bank of India : SBI partners with Flipkart to offer 'pre-approved EMI' for consumers . SBI - SBI will provide overdraft facility to pre-qualified set of customers for transacting on Flipkart for a minimum purchase of 5000 rupees .  Full Article

State Bank Of India approves fund raising of up to US$1,500 mln
Wednesday, 29 Jun 2016 04:00am EDT 

State Bank of India : Approved to raise long term funds up to US$1,500 million via public offer and/or private placement of senior unsecured notes .  Full Article

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