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SBI too will post Q4 loss, but how much?
Posted on 21st May 2018
Punjab National Bank (PNB) has reported a record Rs13,417-crore loss for the March quarter (Q4). All eyes are now on State Bank of India (SBI), the nation’s largest lender.

It will certainly report a loss on Tuesday, more than what it had posted in the December quarter (Rs2,416 crore) but may not surpass that of PNB.

SBI Card base grows 20% in 8 months on small towns
Posted on 17th May 2018
Mumbai: Smaller cities are driving growth for SBI Card which has been increasing its card numbers at a compounded annual growth rate (CAGR) of 40%. Cardholders in centres outside the top 10 cities account for 45% of spending.

This is largely due to mobile-phone internet as 20% of spending from smaller towns is online with mobile phones and fashion being the most common purchases.

Gems and jewellery sector risky, says State Bank of India
Posted on 12th May 2018
State Bank of India (SBI), country’s largest lender, on Friday said the cost of funding to the gems and jewellery sector will remain high as long as the industry is seen risky in view of the recent fraud by diamantaire Nirav Modi’s firms.

SBI managing director Dinesh Kumar Khara, speaking at a seminar organised by Gem and Jewellery Export Promotion Council (GJEPC) here, said as a lender it appreciates the initiatives taken by the council to mitigate concerns of the banks.

Rs 170 crore deal: SBI to buy 4 floors at Mafatlal Centre from IDBI Bank
Posted on 10th May 2018
India’s largest lender State Bank of India (SBI) is in the final stages of buying four floors at Mafatlal Centre in Nariman Point from IDBI Bank in a deal valued close to Rs 170 crore, two people aware of the development told FE.

According to sources, SBI is expected to move a few of its departments to Mafatlal Centre although it could not be immediately ascertained as to which ones these are.

SBI-led lenders take Videocon units to bankruptcy court
Posted on 7th May 2018
Lenders led by State Bank of India have filed insolvency petitions at the National Company Law Tribunal (NCLT) against more than a dozen Videocon group companies that cumulatively owe about Rs 13,000 crore, a move that’s aimed at seeking a comprehensive resolution plan.

The debts have been grouped into four clusters to help streamline the process, three people with the direct knowledge of the matter told ET.

SBI may integrate broking biz with SBI Caps as part of restructuring
Posted on 27th April 2018
State Bank of India (SBI) might integrate its broking business with SBI Capital Markets as part of restructuring the latter’s business. If this happens, SBI Caps will focus on investment banking (debt and equity) and broking, while the project advisory and structured finance divisions will be transferred to the parent company.

SBI began the process of restructuring SBI Caps after the Reserve Bank of India (RBI) flagged the duplication of functions at the bank and its investment banking subsidiary.

SBI Life Insurance, HDFC Standard Life Insurance hit new highs
Posted on 25th April 2018
Shares of life insurance companies were trading higher in otherwise subdued market with SBI Life Insurance Company and HDFC Standard Life Insurance Company hitting their respective new highs on the BSE on Wednesday.

ICICI Prudential Life Insurance Company (IPRU) has surged 11% to Rs 460, extending its Tuesday’s 7% gain after the company reported better than expected results for the financial year 2017-18 (FY18).

Cash crunch could be superficial, says SBI
Posted on 20th April 2018
The State Bank of India (SBI) on Thursday said that the current and sudden surge in Currency in Circulation (CIC) could be superficial.

The leading Public Sector Bank (PSB) added that ATM withdrawals have declined in quarter four (Q4) on a sequential basis.

Banks scale back PoS networks by up to 33pct
Posted on 19th April 2018
The early part of calendar 2018 saw 15 scheduled commercial banks – including the country’s three largest banks and 10 from south India – scale back their network of point-of-sale (PoS) terminals. According to data released by the Reserve Bank of India (RBI), the size of the POS networks of the 15 banks shrunk between 0.4% to 33% in the December 2017 to February 2018 period.

SBI drops out of India's top 10 most valued companies
Posted on 16th April 2018
State Bank of India (SBI), India’s largest state-owned bank, lost its place in the list of the country’s 10 most valued companies in terms of market capitalisation after the stock price of bank declined for the fourth straight trading days on the BSE.

With the m-cap of Rs 2,229 billion (Rs 2.229 trillion), SBI is currently stands at 11th rank, behind of Kotak Mahindra Bank, which has m-cap of Rs 2,231 billion (Rs 2.231 trillion) at 02:18 pm, the BSE data shows.

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