SBI to sell 8 bad loans to recover dues worth over ₹3,900 crore
6 years, 3 months ago

SBI to sell 8 bad loans to recover dues worth over ₹3,900 crore

Live Mint  

New Delhi: State Bank of India, the country’s largest lender, will sell eight non-performing assets to recover dues worth over ₹ 3,900 crore and has invited bids from asset reconstruction companies and financial institutions. Of the eight accounts on the block, Kolkata-based Rohit Ferro Tech has the highest loan outstanding against it at ₹ 1,320.37 crore, followed by Indian Steel Corporation Ltd at ₹ 928.97 crore; Jai Balaji Industries at ₹ 859.33 crore and Mahalaxmi TMT Pvt Ltd at ₹ 409.78 crore. The two accounts on sale were — Bombay Rayon Fashions Ltd which owed ₹ 2,260.79 crore to the bank. In April, SBI had invited bids to sell 12 sour accounts to recover dues worth ₹ 848.54 crore.

Bank Crore Accounts Sbi  bank  accounts  terms  worth  loans  sell  recover  pvt  steel  bad  sbi  sale  3900  dues  assets  crore  tech

History of this topic

Indian Overseas Bank to sell ₹11,500-cr NPAs to ARCs
6 days, 3 hours ago

Indian Overseas Bank to sell ₹11,500-cr NPAs to ARCs

The Hindu  

State-run Indian Overseas Bank on Thursday said it is selling non-performing assets of ₹11,500 crore to asset reconstruction companies. The sale will be conducted through an e-auction under the open auction method on a portfolio basis, it said, adding that the portfolio comprises accounts financed under a consortium arrangement, with some admitted under NCLT. IOB Managing Director and Chief Executive …

Properties worth Rs 22,280 crore of eco-offenders like Mallya, Nirav Modi restored by ED: Nirmala Sitharaman
4 weeks ago

Properties worth Rs 22,280 crore of eco-offenders like Mallya, Nirav Modi restored by ED: Nirmala Sitharaman

New Indian Express  

NEW DELHI: Finance Minister Nirmala Sitharaman has listed several major cases where the Directorate of Enforcement has from time to time attached properties of individuals and companies connected to economic offence cases. Replying to the debate on Supplementary Demands for Grants - First Batch for 2024-2025, the finance minister apprised the Lok Sabha Tuesday evening that the central enforcement agency …

SBI loan disbursements in Telangana race past ₹10,000 cr. in current fiscal
4 weeks, 1 day ago

SBI loan disbursements in Telangana race past ₹10,000 cr. in current fiscal

The Hindu  

State Bank of India home and home-related loan disbursements this fiscal in Telangana raced past the ₹10,000 crore mark in the eight months ended November, SBI Hyderabad Circle said on Monday. Besides home loan, SBI has a wide range of related products such as personal loan against property ; home loan top-up; Maxgain -Hybrid; and NRI home loan which are …

Exclusive: Rs 125 crore in assets returned to victims in Mehul Choksi-PNB scam case
Trending News
1 month ago

Exclusive: Rs 125 crore in assets returned to victims in Mehul Choksi-PNB scam case

India Today  

The Enforcement Directorate, Mumbai, has successfully handed over properties worth more than Rs 125 crore to the liquidator of Gitanjali Gems Ltd. Following an application supported by the ED, the Special PMLA Court in Mumbai approved the monetisation of properties worth Rs 2,565.90 crore linked to Mehul Choksi. PROPERTIES HANDED OVER As per the court’s order, ED initiated the transfer …

SBI Q2 Results: Net profit rises 28% YoY to ₹18,331.4 crore, NII up 5.37%; 6 key highlights
2 months, 1 week ago

SBI Q2 Results: Net profit rises 28% YoY to ₹18,331.4 crore, NII up 5.37%; 6 key highlights

Live Mint  

SBI Q2 Results: Public sector lender State Bank of India on Friday reported a standalone net profit of ₹18,331.44 crore for the quarter ended September 30, 2024, which was up by 27.92% over ₹14,330.02 crore reported by the company in the year-ago period. Net interest income for the quarter ended September, increased by 5.37% year-over-year to reach ₹41,620 crore, up …

SBI net profit zooms 28% on better asset quality, credit growth
2 months, 1 week ago

SBI net profit zooms 28% on better asset quality, credit growth

New Indian Express  

MUMBAI: The State Bank of India has reported a 28 percent on-year growth in net profit at Rs 18,331 crore for the quarter to September driven by improved asset quality and higher credit sales. The new chairman CS Setty, who assumed office only last month, said that in the reporting quarter, the bank earned an interest income of Rs 1.14 …

Congress questions SBI’s decision to convert its debt into equity in SIIL; urges RBI to step in
3 months, 3 weeks ago

Congress questions SBI’s decision to convert its debt into equity in SIIL; urges RBI to step in

The Hindu  

Questioning the State Bank of India’s reported decision to convert its outstanding debt into equity in Supreme Infrastructure India Limited, the Congress on Tuesday urged the Reserve Bank of India to step in and examine SBI’s decision-making process in this matter. In a post on X, Congress general secretary Jairam Ramesh shared a media report which claimed that the SBI …

SBI Q1 2024-25 results: Net profit up 5.04%, net NPAs down by 6.26%, ₹25,000 crore bond fundraise approved
5 months, 1 week ago

SBI Q1 2024-25 results: Net profit up 5.04%, net NPAs down by 6.26%, ₹25,000 crore bond fundraise approved

Hindustan Times  

State Bank of India Ltd has announced its first quarter results for the financial year 2024-25 on Saturday, August 3, 2024 and its board has also approved a ₹25,000 crore fundraising through bonds. SBI recorded a net profit of ₹19,680.80 crore in Q1 2024-25, an increase of 5.04% or ₹944.85 crore, compared to ₹18,735.95 crore during Q1 2023-24 or the …

SBI overtakes Infosys to become India's fifth most valued firm | Full list of top 10
10 months, 3 weeks ago

SBI overtakes Infosys to become India's fifth most valued firm | Full list of top 10

India TV News  

State Bank of India, the nation's largest lender by assets, has once again ascended the market capitalisation ladder, surpassing software giant Infosys. Last week, the state-owned lender reclaimed the title of the most valuable PSU, overtaking LIC in market valuation, following a 10% dip in LIC's share price. 6.89 lakh crore, SBI now holds the fifth position, trailing Reliance Industries, …

Banks write off ₹10.57 lakh crore in 5 years, make NPA recovery worth ₹7.17 lakh cr: FinMin
1 year, 1 month ago

Banks write off ₹10.57 lakh crore in 5 years, make NPA recovery worth ₹7.17 lakh cr: FinMin

The Hindu  

Banks have written off ₹10.57 lakh crore during the last five financial years, of which ₹5.52 lakh crore was in respect of loans pertaining to large industries, the government informed the Parliament on Tuesday. "As per RBI data, scheduled commercial banks have written off an aggregate loan amount of ₹10.57 lakh crore during the last five financial years," Minister of …

PNB HF recovers NPA account of ₹784 crore, resolved through ARC sale: Report
1 year, 4 months ago

PNB HF recovers NPA account of ₹784 crore, resolved through ARC sale: Report

Live Mint  

Punjab National Bank Housing Finance has resolved and fully recovered a corporate non-performing account of ₹784 crore on August 19. PNB Housing Finance Ltd on Monday reported an 47.8 per cent year-on-year rise in its consolidated net profit after tax for the fiscal's first quarter ended June to ₹347.32 crore. The housing finance company's consolidated total revenue from operations rose …

SBI to raise ₹50k crore via debt instruments
1 year, 7 months ago

SBI to raise ₹50k crore via debt instruments

Live Mint  

State Bank of India on Friday said its board has approved a proposal to raise up to ₹50,000 crore this fiscal year through various debt instruments. India’s largest bank intends to raise the funds by issuing long-term bonds, Basel III-compliant Additional Tier 1 bonds, and Basel III-compliant Tier 2 bonds, in private placements to either Indian or overseas investors, subject …

ED seizes assets worth over Rs 121 crore in Pune bank fraud case
1 year, 7 months ago

ED seizes assets worth over Rs 121 crore in Pune bank fraud case

India Today  

The Enforcement Directorate has provisionally attached 47 immovable properties worth Rs 121.81 crore in Pune and movable assets worth Rs 54.25 lakh of Devi Concrete Products under the provisions of the Prevention of Money Laundering Act, 2002. The ED initiated the PMLA investigation based on a predicate FIR at Pune’s Vimantal Police station against Vinay Aranha of the Rosary Education …

CBI books directors of Chennai steel firm for cheating bank of ₹25.89 crore
1 year, 11 months ago

CBI books directors of Chennai steel firm for cheating bank of ₹25.89 crore

The Hindu  

The Central Bureau of Investigation has booked the directors of a steel firm on charges of cheating the Indian Overseas Bank and causing a loss to the tune of ₹25.89 crore. The agency’s Economic Offences Branch has registered a case against M/s SAR ISPAT Private Ltd., and its directors Sanjay Kumar Sharma, Sandeep Kothari, Vikranth Sharma and others, for the …

Banks write off loans worth Rs 11.17 lakh crore in last 6 years
2 years ago

Banks write off loans worth Rs 11.17 lakh crore in last 6 years

Deccan Chronicle  

NEW DELHI: Banks have written off Rs 11.17 lakh crore bad loans from their books in the last six years till financial year 2021-22, Parliament was informed on Tuesday. "As per RBI data, public sector banks and scheduled commercial banks wrote off an aggregate amount of Rs 8,16,421 crore and Rs 11,17,883 crore respectively during the last six financial years," …

SBI lines up various non-performing assets over Rs 746 crore for sale in October-November
2 years, 3 months ago

SBI lines up various non-performing assets over Rs 746 crore for sale in October-November

Firstpost  

The auction of NPAs will include accounts of Sintex BAPL with an outstanding of Rs 197.74 crore; Surat Hazira NH6 Tollway Pvt Ltd of exposure of Rs 335.54 crore and Shreebhav Polyweaves Pvt Ltd New Delhi: The State Bank of India has lined up various non-performing assets up for sale this month and the next, including the fraud account of …

‘Govt., RBI measures help banks recover bad loans worth more than ₹8.6 lakh crore in last 8 fiscal years’
2 years, 5 months ago

‘Govt., RBI measures help banks recover bad loans worth more than ₹8.6 lakh crore in last 8 fiscal years’

The Hindu  

Concrete steps taken by the government and RBI helped banks recover bad loans worth more than ₹8.6 lakh crore in the last eight financial years, the government informed Parliament on Monday. Several factors - including prevailing macroeconomic conditions, sectoral issues, global business environment, delayed recognition of stress by banks, aggressive lending during upturns, improper risk pricing and poor credit underwriting …

SBI says loan demand is bouncing back as its shares outperform peers
2 years, 7 months ago

SBI says loan demand is bouncing back as its shares outperform peers

Live Mint  

Consumer cutbacks due to raging inflation and higher borrowing costs are failing to dent investment plans at Indian businesses tapping the country’s biggest lender, a sign that a recovery in Asia’s third-largest economy is gathering pace. Companies are steadily drawing down from a $71 billion loan pipeline, Dinesh Kumar Khara, chairman of State Bank of India, told Bloomberg News in …

SBI Q4 results: Profit jumps 41%, bad loans decline
2 years, 8 months ago

SBI Q4 results: Profit jumps 41%, bad loans decline

India Today  

State Bank of India on Friday reported a 41 per cent surge in standalone net profit at Rs 9,114 crore for the fourth quarter ended March 2022, helped by decline in bad loans. On a consolidated basis, the bank reported a 56 per cent increase in net profit at Rs 9,549 crore, compared to Rs 6,126 crore in the fourth …

CBI registers case against Hyderabad private company for Rs 218 crore SBI loan fraud
2 years, 11 months ago

CBI registers case against Hyderabad private company for Rs 218 crore SBI loan fraud

India Today  

The Central Bureau of Investigations has registered a fraud case against a Hyderabad-based firm for allegedly committing bank fraud worth over Rs 218 crore. The CBI registered a case against a private company based at Ameerpet in Telangana’s Hyderabad and others, including its managing director, a director & unknown public servants and private persons. The complaint alleged that the private …

Record profit pushes SBI shares to all-time high
3 years, 5 months ago

Record profit pushes SBI shares to all-time high

Live Mint  

Shares of State Bank of India rose to their all-time high after the nation’s largest lender posted a record quarterly profit, driven by its non-lending business and lower provisions for bad loans. Net income rose 55% to 65 billion rupees in the three months to June, according to a statement Wednesday, beating the average estimate of 54 billion rupees from …

SBI-led bank consortium gets Rs 792 crore by sale of Kingfisher Airlines' shares in Vijay Mallya case
3 years, 5 months ago

SBI-led bank consortium gets Rs 792 crore by sale of Kingfisher Airlines' shares in Vijay Mallya case

India TV News  

The State Bank of India-led consortium that lent loans to fugitive businessman Vijay Mallya on Friday received Rs 792.11 crore in its accounts after some shares, earlier attached under the anti-money laundering law, were sold, the Enforcement Directorate said. Apart from the Mallya case, the other case pertains to over Rs 13,500 crore alleged bank loan cheating in the Brady …

SBI led consortium receives ₹5,824 crore from share sale of United Breweries
3 years, 6 months ago

SBI led consortium receives ₹5,824 crore from share sale of United Breweries

Live Mint  

The Enforcement Directorate on Friday informed that the SBI-led consortium received ₹5,824.5 crore from the sale of shares of United Breweries Limited. Nirav Modi, Mehul Choksi, and Vijay Mallya have defrauded PSBs by siphoning off the funds through their companies which resulted in a total loss of ₹22,583.83 crore to the banks, the ED said. The ED said an estimated …

Shares worth Rs 5800 crore sold, ED says 40 pc of loss in PNB, Mallya bank fraud cases recovered
3 years, 6 months ago

Shares worth Rs 5800 crore sold, ED says 40 pc of loss in PNB, Mallya bank fraud cases recovered

India TV News  

About 40 per cent of the money lost by banks in alleged frauds perpetrated by fugitive businessmen Nirav Modi, Mehul Choksi and Vijay Mallya has been recovered so far, the Enforcement Directorate said after the sale of attached shares worth over Rs 5,800 crore on Wednesday. "The quantum of the attached and seized assets represent 80.45 per cent of the …

Banks can sell Vijay Mallya's properties, shares worth Rs 5,646 crore to recover dues
3 years, 7 months ago

Banks can sell Vijay Mallya's properties, shares worth Rs 5,646 crore to recover dues

India TV News  

Armed with court order, a consortium of lenders led by SBI can now sell certain real estate properties and securities belonging to fugitive Vijay Mallya to recover loans turned bad with failure of Kingfisher Airlines. A consortium of 11 banks that gave Mallya loans, led by State Bank of India, had approached a special Prevention of Money Laundering Act court …

SBI to boost retail book, sees better earnings
4 years, 1 month ago

SBI to boost retail book, sees better earnings

Live Mint  

State Bank of India will accelerate retail loans and expects most lenders to post stronger-than-anticipated earnings as the economy revives faster than expected, according to chairman Dinesh Khara. “That’s why we are expected to see much better results than at the beginning of the pandemic.” SBI’s bad loan ratio fell to 5.28% at the end of September from 5.44% three …

Indian Overseas Bank Reports Net Profit of Rs 148 Crore in Q2 as Bad Assets Decline
4 years, 2 months ago

Indian Overseas Bank Reports Net Profit of Rs 148 Crore in Q2 as Bad Assets Decline

News 18  

State-owned Indian Overseas Bank on Friday reported a net profit of Rs 148 crore for the second quarter of current fiscal as bad loans and provisions declined. Sequentially, net profit grew 22.3 per cent from Rs 121 crore in June quarter of this fiscal. Total income rose 8.1 per cent to Rs 5,431 crore during the quarter under review as …

Adani Group, Piramal Among 4 Bidders for DHFL, Lenders Stare at Over Rs 60,000 Cr Write-off
4 years, 2 months ago

Adani Group, Piramal Among 4 Bidders for DHFL, Lenders Stare at Over Rs 60,000 Cr Write-off

News 18  

Adani Group and Piramal Enterprises are among the four entities that have placed bids for DHFL, the first financial services player undergoing insolvency process, according to sources. Therefore, sources said, accepting Oaktree bid would result in a write-off of Rs 65,000 crore for the lenders led by State Bank of India. Adani Group has bid for DHFL’s Rs 40,000-crore wholesale …

SBI Reports 81% Surge in Quarterly Profit, Provisions for Bad Loans Drop
4 years, 5 months ago

SBI Reports 81% Surge in Quarterly Profit, Provisions for Bad Loans Drop

News 18  

Top Indian lender State Bank of India reported an 81% jump in quarterly profit on Friday, helped by a one-time gain from selling a stake in its life insurance unit and a drop in provisions for bad loans. Indian lenders are bracing for a surge in bad loans in a pandemic-ravaged economy, with the central bank's relief measures including deferments …

Yes Bank may sell a part of wholesale loan book to SBI
4 years, 6 months ago

Yes Bank may sell a part of wholesale loan book to SBI

Live Mint  

Troubled private sector lender Yes Bank Ltd may sell a big chunk of its wholesale loan book to its lead investor, State Bank of India to shore up liquidity, three people aware of the talks between the two lenders said. Yes Bank has already raised ₹3,200 crore by downselling its profitable loan facility in ‘Safeway Concessions’, a subsidiary of Australia’s …

He was a debt collector at age 12. Now, at SBI, he is chasing ₹1.5 lakh crore
4 years, 6 months ago

He was a debt collector at age 12. Now, at SBI, he is chasing ₹1.5 lakh crore

Live Mint  

From the age of 12, Challa Sreenivasulu Setty spent his school vacations collecting debts for his father’s grocery store in the small south Indian village of Potlapadu. One-Time Settlements “We prefer one-time settlements at SBI over long litigations,” Setty said of his first principle. “It is very difficult to state what approach we will take” on recovering loans from companies, …

SBI’s Mudra NPAs at 15%, loan book stabilized, says Rajnish Kumar
4 years, 6 months ago

SBI’s Mudra NPAs at 15%, loan book stabilized, says Rajnish Kumar

Live Mint  

While close to 15% of State Bank of India’s loans under the Pradhan Mantri Mudra Yojana have turned bad, the bank has been able stabilise the portfolio by introducing end-to-end digitisation, said Rajnish Kumar, chairman, SBI “We have tweaked the model and changed it to e-mudra. The bad loans used to be high in the up to ₹50,000 bracket and …

CBI books Delhi-based private firm for defrauding SBI, PNB of Rs 398 crore
4 years, 6 months ago

CBI books Delhi-based private firm for defrauding SBI, PNB of Rs 398 crore

India Today  

The Central Bureau of Investigation has conducted searches in the national capital in connection with a bank fraud case of Rs 398 core. The two biggest lenders of country, State Bank of India and Punjab National Bank, have been defrauded to the tune of Rs 398 crore, said the agency. On the complaint of SBI, the federal probe agency booked …

SBI to disburse Rs 700 cr to Mumbai circle MSMEs by June-end
4 years, 8 months ago

SBI to disburse Rs 700 cr to Mumbai circle MSMEs by June-end

India TV News  

State Bank of India, the country's largest lender, has set a target of disbursing Rs 700 crore to MSMEs in the Mumbai circle by the end of June, to help them tide over liquidity crisis due to the COVID-19 lockdown. "SBI will boost flow of credit to MSMEs in this challenging period by reassessing their working capital limit and also …

One rupee: The value that foreign brokerages attach to the YES Bank stock
4 years, 10 months ago

One rupee: The value that foreign brokerages attach to the YES Bank stock

Business Standard  

One rupee: The value that foreign brokerages attach to the YES Bank stock Macquarie Capital Securities also said if State Bank of India decided to buy stake in the bank, they should buy it at Rs 1 per share as the net worth is hugely impaired Premium YES Bank’s shares soared 26 per cent to Rs 36.85 on Thursday after …

SBI, Union Bank plan to sell bad loans of Rs 2,836 cr this month to asset reconstruction companies
5 years ago

SBI, Union Bank plan to sell bad loans of Rs 2,836 cr this month to asset reconstruction companies

Firstpost  

In a notice issued on Thursday, SBI said it will sell two NPAs- Rohit Ferro Tech with an outstanding amount of Rs 1,313.67 crore and Impex Ferro Tech with dues of Rs 200.67 crore, on 17 January. Mumbai: The country’s largest lender State Bank of India and Union Bank of India are looking to sell their non-performing loans totalling Rs …

SBI gets a ₹11,932 crore bad loans jolt from RBI
5 years, 1 month ago

SBI gets a ₹11,932 crore bad loans jolt from RBI

Live Mint  

Mumbai: India’s largest lender, State Bank of India, underreported bad loans and their provisioning by ₹11,932 crore and ₹12,036 crore, respectively, in 2018-19, the Reserve Bank of India has found, the highest such figures reported by any bank so far for the last fiscal. In a stock exchange filing on Tuesday disclosing the central bank’s risk assessment report, SBI said …

Bombay High Court relief for SBI, other DHFL lenders
5 years, 2 months ago

Bombay High Court relief for SBI, other DHFL lenders

India TV News  

The Bombay High Court on Wednesday allowed a plea by a group of banks, including the State Bank of India, seeking to modify its earlier order restraining payments by mortgage financier DHFL to them. The high court said payments to banks and NBFCs, pursuant to any securitisation or similar agreement, will be allowed. The DHFL was making regular payments before …

Investors wary of loans amid SBI’s higher valuation call
5 years, 2 months ago

Investors wary of loans amid SBI’s higher valuation call

Live Mint  

Mumbai: The country’s largest lender, State Bank of India, believes it deserves a higher valuation from investors than what is ascribed to it at present. Chairman Rajnish Kumar has rolled out his plan for the next two years, through which SBI will hack through its pile of bad loans and bring in virtuous business growth. The other risk with SBI, …

SBI Q2 net profit trebles to ₹3011.73 crore, asset quality improves
5 years, 2 months ago

SBI Q2 net profit trebles to ₹3011.73 crore, asset quality improves

Live Mint  

Mumbai: State Bank of India on Friday said its net profit for September quarter more than tripled year on year on the back of higher net interest income and one-time gain from SBI Life stake sale. This despite a 17% year on year jump in provisioning The bank reported a net profit ₹3011.73 crore for the three months ended September …

Daily Bulletin: SC to hear Ayodhya case today; SC to hear Unnao case; India evaluates 'consular access' offer to Kulbhushan Jadhav; day's top stories
5 years, 5 months ago

Daily Bulletin: SC to hear Ayodhya case today; SC to hear Unnao case; India evaluates 'consular access' offer to Kulbhushan Jadhav; day's top stories

Firstpost  

The bench, which had perused a report about the progress of mediation process on Ayodhya dispute till 18 July, had said that its contents will remain confidential as per its earlier order. Ayodhya land dispute case: SC to consider mediation panel’s report at 2 pm, to fix day-to-day hearing schedule The Supreme Court is likely to consider on Friday the …

SBI shares up nearly 3% post March quarter results; market-cap rises by Rs 7,854 cr
5 years, 8 months ago

SBI shares up nearly 3% post March quarter results; market-cap rises by Rs 7,854 cr

Firstpost  

New Delhi: Shares of SBI on Friday gained nearly 3 percent after the company reported a standalone net profit of Rs 838.40 crore in the fourth quarter of 2018-19 fiscal. The country’s largest lender on Friday reported a standalone net profit of Rs 838.40 crore in January-March quarter as non-performing assets came down. The state-owned lender had reported a net …

SBI takes a final knock on profits to build insurance against loan risks
5 years, 8 months ago

SBI takes a final knock on profits to build insurance against loan risks

Live Mint  

Mumbai: The country’s largest lender, State Bank of India, chose to take a huge knock on its profits in exchange for a less turbulent future on asset quality. The lender reported a net profit of ₹838.40 crore for the March quarter, way below the median estimate of ₹4840.84 crore according to a Bloomberg survey of analysts. SBI chairman Rajnish Kumar …

SBI reports net profit of Rs 838 crore in March 2019 quarter
5 years, 8 months ago

SBI reports net profit of Rs 838 crore in March 2019 quarter

India TV News  

SBI reports net profit of Rs 838 crore in March 2019 quarter Country's largest lender SBI on Friday said it has reported net profit of Rs 838.40 crore in fourth quarter of 2018-19 fiscal on a standalone basis as non-performing assets came down. Income during the March quarter of 2018-19 rose by nearly 11 per cent to Rs 75,670.50 crore …

SBI reports net profit of ₹838 crore in Q4, misses estimates
5 years, 8 months ago

SBI reports net profit of ₹838 crore in Q4, misses estimates

Live Mint  

State Bank of India missed estimates for quarterly earnings on Friday as the lender made higher provisions for its bad debt. SBI posted a profit of ₹838.40 crore while 19 Bloomberg analysts had estimated a profit of ₹4,840.80 crore during the quarter. Net interest income, or the core income a bank earns by providing loans, was up 15% to ₹22,953.83 …

To cut costs, SBI may rethink role of branches
5 years, 8 months ago

To cut costs, SBI may rethink role of branches

Live Mint  

State Bank of India is planning to optimise costs by rethinking the role of branches to see what activities and processes currently performed there can be centralised. As part of the exercise, the nation’s largest lender will appoint a consultant to suggest strategies to optimize balance sheet and maximize return on asset and pre-provisioning operating profit, a document seeking bids …

SBI gets board approval to raise up to $2.5 billion in bonds
5 years, 8 months ago

SBI gets board approval to raise up to $2.5 billion in bonds

Live Mint  

Mumbai: The State Bank of India Wednesday said its board has given its approval to raise up to $2.5 billion through bonds in FY20. In a statement issued Wednesday, SBI said the board has approved “long-term fund raising in single/multiple tranches up to $2.5 billion under Reg-S/144A, through a public offer and/or private placement of senior unsecured notes in US …

SBI to sell NPAs worth more than ₹1,000 crore
5 years, 10 months ago

SBI to sell NPAs worth more than ₹1,000 crore

Live Mint  

Mumbai: State Bank of India has decided to sell 487 bad loans worth over ₹1,000 crore in corporate, small and medium enterprise and housing segments to asset reconstruction companies, other banks and financial institutions, said a bank notice seeking bids. Interestingly, the bank has also put on sale 480 housing and SME loans from its stressed asset resolution branches across …

Revival is near, but toxicity worries State Bank of India
5 years, 11 months ago

Revival is near, but toxicity worries State Bank of India

Live Mint  

Is the Indian economy finally free of the toxicity that infected balance sheets of companies? SBI reported an impressive 16% growth in domestic loan offtake, which was surprisingly led by growth in its corporate book. SBI gave 20% more loans to companies than it did a year ago and a lot of it is indeed working capital. Now, gross bad …

SBI Q3 net profit at ₹3,955 crore; asset quality improves
5 years, 11 months ago

SBI Q3 net profit at ₹3,955 crore; asset quality improves

Live Mint  

Mumbai: The country’s largest lender State Bank of India on Friday posted a net profit of ₹3,954.81 crore, the highest ever in seven years. The bank posted a net profit ₹3,954.81 crore for the three months ended 31 December compared to a loss of ₹2,416.37 crore in the year-ago period. Net interest income, or the difference between interest earned on …

Discover Related