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State Bank of India (SBI.NS)

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Latest Key Developments (Source: Significant Developments)

SBI says LIC cuts stake in co by 2.01 percent between Nov 5, 2014 to Sept 28, 2016
Friday, 30 Sep 2016 06:45am EDT 

State Bank Of India :LIC cuts stake in co by 2.01 percent to 10.435 percent between Nov 5, 2014 to Sept 28, 2016.  Full Article

India cenbank identifies SBI, ICICI Bank as domestic key banks in 2016
Thursday, 25 Aug 2016 07:02am EDT 

Reserve Bank of India: RBI identifies SBI and ICICI Bank as D-SIBs in 2016 . Retained SBI and ICICI Bank's bucketing structure as it was last year . Framework also requires D-SIBs to be placed in four buckets depending upon their systemic importance scores . Additional CET1 requirement for the 2 banks has already been phased-in from April 1, 2016 and would become fully effective from April 1, 2019 . Additional CET1 requirement will be in addition to the capital conservation buffer. .  Full Article

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

BRIEF-State Bank of India sets one year MCLR rate at 8.90 pct

* Sets one year MCLR rate at 8.90 percent effective from 1st December 2016 Source text: http://bit.ly/2gEhLl3 Further company coverage: