State Bank of India (SBIN)

SBI Signs MoU with FCDO, Analysts Optimistic About PSU Banking Space - 24 Jul, 2024

State Bank of India (SBI) signs non-binding MoU with FCDO, UK for 750 million Pounds matched contributions over a pre-agreed timeline. Analysts remain optimistic about the PSU banking space, liking SBI and Bank of Baroda at current levels for long-term investors. SBI also featured as a key pick by Anand Rathi Shares and Stock Brokers. However, SBI closed 1.15% lower on Wednesday amidst a Sensex decline.

Mixed Day for State Bank of India Stock - 23 Jul, 2024

State Bank of India (SBI) faces criticism from the Central Information Commissioner over the behavior of its officials. However, analysts recommend buying SBI stock due to its undervaluation compared to peers. The Bank Nifty index ended lower, with SBI contributing to the losses.

SBI Announces Quarterly Results Date; MD Discusses Deposit Growth Challenges - 22 Jul, 2024

State Bank of India (SBI) is set to release its Q1 FY2025 financial results soon. SBI's Managing Director has suggested options like tax benefits and CRR relaxation to encourage bank deposits amidst low deposit growth challenges.

SBI Shares Gain 3.5% in a Week - 21 Jul, 2024

State Bank of India (SBI) shares saw a weekly gain of 3.5%, resulting in an increase of Rs 26,372.2 crore in the bank's market value.

SBI Unipay Users Unable to Pay Credit Card Bills Online - 20 Jul, 2024

Users of SBI Unipay, the online bill payment aggregator service of State Bank of India, have been unable to pay their credit card bills on the portal since July 18 evening. The portal has removed all options for paying bills except SBI internet banking.

SBI Faces Challenges Under New Chairman - 19 Jul, 2024

The new chairman of State Bank of India, Challa Sreenivasulu Setty, faces challenges in expanding loan portfolios, managing climate risk, addressing falling CASA ratios, and unlocking value in non-bank subsidiaries. Meanwhile, current Chairman Dinesh Khara has said that the bank is willing to raise interest rates to mobilize deposits. Renewable energy is expected to be a key growth driver for the bank.

SBI Secures Funds for Solar Financing, Raises Rs 20,000 Crore - 18 Jul, 2024

The State Bank of India (SBI) and National Bank for Agriculture and Rural Development (NABARD) have secured funds for financing rooftop solar systems in India. SBI also raised Rs 20,000 crore in two tranches from the debt market.

SBI Aims to Lead India in Climate Finance; AGS Wins ATM Deployment Order - 17 Jul, 2024

State Bank of India targets 7.5% of its domestic gross advances to be green advances and aims to lead India in climate finance by 2055. SBI's exposure to stockbrokers increased to ₹29,678 crore. AGS Transact Technologies wins an order for deploying 2,500+ ATMs from SBI.

SBI Launches New Deposit Scheme Amid Tax Parity Requests - 16 Jul, 2024

State Bank of India (SBI) has launched a new term deposit scheme, Amrit Vrishti, while also seeking income tax parity on bank fixed deposits and SBI AMC requesting capital gains tax parity for mutual funds. Additionally, SBI reported the highest reduction of employees among public sector banks and organized an Agriculture Loan Mela.

SBI Unveils New Deposit Scheme Amid Bullish Momentum - 15 Jul, 2024

State Bank of India introduces a new deposit scheme with its highest-ever interest rate of 7.25%. Traders recommend buying SBI stock due to bullish momentum. SBI economists predict adherence to fiscal prudence by the government. SBI's Deputy MD states that the banking sector is well-capitalized.

State Bank of India Emerges as Most Profitable PSU - 12 Jul, 2024

State Bank of India has emerged as the most profitable public sector bank in India. The combined profits of all 12 PSU banks have risen 4.5 times in the last three years, from ₹31,818 crore in FY21 to ₹1.4 trillion in FY24.

SBI Raises Funds Through Infrastructure Bonds, Offers Digital Loan Against MF Units - 11 Jul, 2024

State Bank of India (SBI) raised Rs 10,000 crore through infrastructure bonds, while also offering an online loan facility against mutual fund units. SBICAPS report predicts credit growth to exceed nominal GDP growth in FY25.

SBI Raises Funds Through Bond Issue Amid Predictions of Strong Bank Credit Growth - 10 Jul, 2024

State Bank of India (SBI) raised Rs 10,000 crore through a sixth tranche of infrastructure bonds. SBI Capital Markets predicts strong bank credit growth of 13-15% in FY25, while outgoing SBI Chairman advocates tax relief on interest income for account holders.

SBI Faces Challenges from Cyber Scams and Insolvency Process; Open to Selling Stake in YES Bank - 09 Jul, 2024

State Bank of India faces challenges from cyber scams and an inefficient insolvency process, while being open to selling its stake in YES Bank. Rudra Murthy recommends buying SBI shares, while Tamil Nadu police issue an advisory over a new cyber scam involving SBI reward points. State-run and private sector banks may face modest earnings growth in Q1.

SBI Calls for Tax Parity on Bank Deposits - 08 Jul, 2024

SBI has called for tax parity on bank deposits compared to other investment avenues. The bank also suggested income tax parity on fixed deposits with mutual funds and equity markets. Additionally, SBI released a report recommending a comprehensive Credit Guarantee Fund for agriculture and allied sectors. State-run banks have written off Rs 10.42 lakh crore in corporate loans between 2014-15 and 2022-23. SBI also advocates consolidation of existing government-owned banks. Lastly, SBI invited EoIs to acquire its stressed loan exposure of Rs 14.97 crore in Amul Industries.

SBI Provides Relief and Boosts Equity Indices - 07 Jul, 2024

State Bank of India (SBI) provides relief by accepting One Time Settlement proposal and boosts Indian equity indices. Credit growth in Indian banking sector expected to exceed nominal GDP growth, says SBI Capital Markets report.

SBI Plans to Raise Funds Through Infrastructure Bonds - 06 Jul, 2024

State Bank of India is set to tap the debt market to raise up to Rs 10,000 crore through infrastructure bonds to reduce its overall cost of funds. Additionally, SBI is expected to report a slight YoY increase in Q1FY25 net profit due to strong NII growth and robust loan expansion.

SBI Jumps to 18th Place in Global Top 20 Banks List - 05 Jul, 2024

State Bank of India has jumped to the 18th place in the global top 20 banks list, with a 32.5% increase in market capitalization over the last year. Additionally, SBI raised Rs 10,000 crore at a coupon rate of 7.36% for infrastructure projects.

SBI Launches New Initiatives for Diversified Customer Profiles - 04 Jul, 2024

State Bank of India (SBI) has introduced several new initiatives to enhance its digital payment experience, catering to diversified customer profiles and their banking needs. ICICI Securities recommends buying SBI stock with a target price of Rs 945 in the next three months.

State Bank of India Raises Rs 10,000 Crore Through Infrastructure Bonds - 03 Jul, 2024

SBI has raised Rs 10,000 crore through 15-year infrastructure bonds at a coupon rate of 7.36%. The bank's decision to issue infra bonds was driven by the growing demand for funds from renewable energy firms and affordable housing.