SBI to engage with 1 lakh customers on Tuesday to resolve concerns
Posted on 24th May 2019 |
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The country's largest lender SBI will conduct a customer outreach programme next week to address their queries and seek suggestions to improve services. The 'Mega Customer Meet', to be held on Tuesday, is expected to engage with 1 lakh bank customers across 500 locations through 17 local head offices across the country. |
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Analyst corner: SBI to outperform from current levels – Axis Capital
Posted on 15th May 2019 |
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Q4 operating profit (Rs 169.3 bn; up 7% y-o-y) was higher than expected, but PAT (Rs 8.3 bn vs. estimate of `39.1 bn) was significantly below expectations, primarily on higher provisions. Positives in Q4: (a) Loan growth picked up at 13% y-o-y; (b) NIM improved 2 bps q-o-q 2.78%; (c) GNPA ratio down 118 bps q-o-q at 7.5% and (d) PCR increased ~500 bps q-o-q to 61.9%. Slippages were lower than expectations at `79.6 bn (1.6% of loans vs. 1.4% in Q3FY19). |
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SBI gains 8% from Friday's low on improved asset quality in Q4FY19
Posted on 13th May 2019 |
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Shares of State Bank of India (SBI) were trading 2 per cent higher at Rs 314 during the early morning trade on Monday, after the bank reported healthy March quarter numbers for 2018-19. The stock extended its Friday's gain of over 5 per cent as it witnessed buying interest after the bank reported improvement in asset quality during Q4FY19. The stock has rebounded 8 per cent from Friday’s low of Rs 292 on the BSE. |
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SBI posts net profit of Rs 838 crore in Q4 on higher interest income
Posted on 11th May 2019 |
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Depicting a sturdy financial profile, the country’s largest bank — the State Bank of India — posted a net profit of Rs 838 crore in the fourth quarter of 2019 (Q4FY19) on higher interest income and sharp drop in provisions for bad loans. SBI had posted a loss of Rs 7,718 crore in the fourth quarter of FY18. |
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SBI reports Q4 profit of Rs 838 crore, NPAs decline
Posted on 10th May 2019 |
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State Bank of India (SBI) on Friday reported standalone net profit at Rs 838.4 crore for the March quarter of the financial year 2018-19 (FY19). The state-owned lender had posted a loss of Rs 7,711.17 crore in the year-ago period. Net interest income (NII) during the quarter came in at Rs 22,954 crore, up 15 per cent on year-on-year (YoY) basis. |
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Analyst corner: SBI Life’s traction in protection Biz to continue
Posted on 1st May 2019 |
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SBI Life reported higher than expected Q4 PAT at `4.6 bn (up 20.1% y-o-y), primarily on account of higher income from investments (`41.5 bn – up 476.1% y-o-y). Value of new business (VNB) grew strong 23.7% y-o-y aided by 150 bps y-o-y increase in VNB margin to 17.7% (up 20 bps q-o-q) on rising share of protection business. Share of high-margin protection NBP (individual and group) has been consistently increasing from 5.2% in Q3FY18 to 13.4% of NBP in Q4 (up 136 bps q-o-q). |
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Ask SBI to release one month's salary to Jet Airways staff: NAG to PM Modi
Posted on 29th April 2019 |
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The National Aviator's Guild (NAG), which represents pilots of the grounded carrier Jet Airways, Saturday requested Prime Minister Narendra Modi to "direct" the airline's lender State Bank of India to release one month's salary of all the employees. In a late evening e-mail to the prime minister, the guild also sought government's directive to "stop de-registration" of the airline's aircraft, which are now being leased by other domestic carriers. |
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SBI General's profit before tax rises 11% to Rs 470 crore in Q4
Posted on 27th April 2019 |
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SBI General Insurance, a subsidiary of SBI, on Friday reported a 11.3 per cent rise in profit before tax at Rs 470 crore for the financial year ended March. It was Rs 422 crore in previous year. The solvency ratio for FY18–19 is 2.34 against 2.54 for the same period last year. SBI General is looking at listing of its shares in the second half of the current financial year. Joint venture partners — SBI and Insurance Australia Group — are working on modalities for listing after September 2019, top company executive said. |
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SBI receives approval to raise $2.5 billion via foreign currency bonds
Posted on 25th April 2019 |
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At a time when both spreads and US treasury yields are contracting, the country’s largest lender State Bank of India (SBI) indicated it received approval to raise up to $2.5 billion via issue of foreign currency bonds in fiscal 2020. It is not yet clear as to what time the bank will hit the market with its issue. However, what is noteworthy is the fact that fund-raising costs have come down significantly in the dollar bond market. |
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