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 Macquarie group which operates several highway assets in India. In August 2018, Yes Bank had underwritten Safeway’s entire debt portion of ₹5,000 crore, helping Macquarie achieve financial closure for the project, and pay ₹9,681.5 crore upfront to National Highways Authority of India. With the sale of these two accounts to SBI, Yes Bank will be able to reduce its wholesale loan book, which makes up 55.9% of its overall loan book of ₹1.7 trillion.

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History of this topic

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 …

Stress in home loans won’t deter SBI, says Khara
3 years, 5 months ago

Stress in home loans won’t deter SBI, says Khara

Live Mint  

Despite rising delinquencies in home loans, State Bank of India has no plans to rethink its strategy of aggressively growing this portfolio, given the significant potential of home finance, chairman Dinesh Khara said. Even as SBI’s market share in home loans during the quarter rose by 24 basis points sequentially, bad loans rose by 59 bps. We have mastered how …

SBI reduces home loan rates to 6.7%
3 years, 10 months ago

SBI reduces home loan rates to 6.7%

The Hindu  

The country’s largest lender State Bank of India on March 1 said it has reduced interest rates on home loans by up to 10 basis points and is offering loans starting from 6.70% rate. The bank said the home loan interest rates will start from 6.70% for loans up to ₹75 lakh and 6.75% for loans in the range of …

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 …

No Clamour or Rush for Restructuring of Loan, Says SBI Chairman
4 years, 3 months ago

No Clamour or Rush for Restructuring of Loan, Says SBI Chairman

News 18  

Contrary to market expectations, there was not too much demand or clamour for restructuring of loans as permitted by RBI recently to beat the COVID-19 related stress, SBI Chairman Rajnish Kumar said. He expects not more than Rs 1.5 lakh crore worth loans would avail restructuring benefit even though people have projected it to be around Rs 8 lakh crore. …

SBI Chief Says Will Look at Loan Restructuring after End of Moratorium
4 years, 4 months ago

SBI Chief Says Will Look at Loan Restructuring after End of Moratorium

News 18  

State Bank of India will consider loan restructuring for eligible borrowers after the end of moratorium period which draws to a close on August 31, according to its Managing Director Dinesh Khara. “Restructuring of eligible loans will also be considered as and when the moratorium comes to an end at the end of August,” he said, speaking at a conference …

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 …

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 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 …

SBI rules out merger with crisis-hit Yes Bank
4 years, 10 months ago

SBI rules out merger with crisis-hit Yes Bank

India TV News  

SBI chairman Rajnish Kumar on Saturday said that there is no question of a merger with the Yes Bank, as it is evaluating the restructuring draft scheme of the crisis-hit bank. "There is no question of a merger of the bank with the state-run bank," SBI said amid Yes Bank crisis, according to the Economic Times. Meanwhile, SBI chairman said, …

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, …

Jet Airways crisis: SBI moves intervention plea against HDFC claim on airline's BKC property; NCLT adjourns matter for 8 August
5 years, 5 months ago

Jet Airways crisis: SBI moves intervention plea against HDFC claim on airline's BKC property; NCLT adjourns matter for 8 August

Firstpost  

Mumbai: State Bank of India, the lead lender to the bankrupt Jet Airways, on Wednesday moved an intervention application against mortgage lender HDFC’s plea claiming rights over a portion of the airline’s BKC property. On 4 July, the mortgage lender HDFC had moved the NCLT seeking to keep the airline’s BKC property out of the bankruptcy process saying three floors …

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 selects banks for $1.4 billion share sale
6 years ago

SBI selects banks for $1.4 billion share sale

Live Mint  

Hong Kong/Mumbai: State Bank of India, the country’s largest lender, has selected underwriters for an institutional share sale that could raise at least ₹ 10,000 crore, people with knowledge of the matter said. The government-run lender picked Bank of America Corp., CLSA Ltd. and HSBC Holdings Plc to arrange the offering, according to the people, who asked not to be …

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 …

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