State Bank of India (SBIN)

State Bank of India Reports Strong Results - 11 May, 2024

State Bank of India's FY 2024 results show a significant increase in revenue and net income. Analysts have raised their share price targets following the bank's strong Q4 performance.

SBI Reports Strong Q4 Results, Beats Estimates - 10 May, 2024

State Bank of India (SBI) reported its highest-ever quarterly net profit of ₹20,698 crore in Q4 FY23-24, beating analysts' estimates by a wide margin. The bank also declared a dividend of Rs 13.7 per share. SBI's consolidated net profit for the year rose by 18% to Rs 21,384.15 crore.

SBI Reports Strong Q4 Results with Record Profit - 09 May, 2024

State Bank of India (SBI) reports a record profit of Rs 20,698 crore for Q4 FY24, beating estimates, driven by strong loan demand and lower provisions. SBI expresses confidence in growing credit book by 14-16% in current fiscal year. The asset quality of the bank improved, and it declared a dividend of Rs 13.7 per equity share for FY24.

SBI Expected to Report Sharp Fall in Net Profit for Q4FY24 - 08 May, 2024

State Bank of India (SBI) is set to report its Q4FY24 results, with analysts predicting a decline in net profit due to one-time wage revisions and higher operating expenses. Additionally, the RBI's proposed norms to tighten project financing have caused SBI's stock to fall. However, NII is expected to grow marginally.

SBI Faces Profit Decline Amidst Tighter Regulations and Wage Revision - 07 May, 2024

State Bank of India faces declining profits amidst the RBI's proposed tighter regulations for project financing and wage revision. However, state-run banks are set to deploy generative artificial intelligence (GenAI) systems for credit modelling, data analytics, and cybersecurity.

SBI Provides Loan for WTC Project, FSIB to Recommend Chairman Candidate - 06 May, 2024

State Bank of India has provided a loan of Rs 714 crore to TCG Real Estate for its World Trade Centre project in Gurugram. Meanwhile, the Financial Services Institutions Bureau is set to recommend a candidate for the post of SBI chairman as the current chairman's tenure ends soon.

State Bank of India Offers Comprehensive Advisory Services to Startups - 05 May, 2024

The State Bank of India is offering advisory services to startups nationwide, providing expert guidance in project advisory, financial services, and equity-debt matters. This initiative aims to help startup founders craft effective business strategies, conduct market research, and adopt industry best practices.

State Bank of India Joins C2FO's TReDS Platform - 04 May, 2024

State Bank of India has joined C2FO's TReDS platform, C2treds, which facilitates financing and discounting of trade receivables for MSMEs through multiple financiers.

State Bank of India in Focus Amidst Green Cells Plan and Paytm Integration - 03 May, 2024

State Bank of India is among the PSP banks that Paytm has integrated with to migrate user accounts. PSBs are planning to set up green cells for climate-specific initiatives, while SBI remains a top pick in the public space.

SBI Seeks Approval to Sell Debt; Sanctions Loans for Solar Projects - 02 May, 2024

State Bank of India seeks RBI approval to sell Jaiprakash Associates' debt worth Rs 18,000 crore to NARCL. SBI also sanctions and disburses a 20-year project loan facility to Avaada Energy for two solar projects in Gujarat. Additionally, SBI is in talks to lead a consortium of lenders to provide loans worth $1.80 billion to Vodafone Idea.

SBI Shares Rise Amidst Market Gains and Analyst Advice - 30 Apr, 2024

Shares of State Bank of India hit a new 52-week high amidst market gains and punters piling on shares ahead of JP Morgan Bond Index inclusion. However, Anand Rathi advises investors to consider booking profits due to a potential reversal.

SBI Partners with HCLSoftware for Digital Revamp; Hits Fresh 52-Week High - 29 Apr, 2024

State Bank of India (SBI) hit a fresh 52-week high and gained over 1% after getting the government's approval to divest its entire 25.02% stake in Yes Bank. SBI also partnered with HCLSoftware to digitally revamp its customer interaction framework. The bank's stock drove the Bank Nifty index 2.4% higher.

SBI gains despite NCLAT ruling on ITPCL liquidation value - 28 Apr, 2024

The National Company Law Appellate Tribunal (NCLAT) dismissed State Bank of India's (SBI) opposition to the liquidation value of IL&FS Tamil Nadu Power Company Ltd. Despite this, SBI emerged as one of the biggest gainers in the stock market last week.

SBI Partners with HCLSoftware; Paytm Expedites Integration with SBI - 27 Apr, 2024

State Bank of India (SBI) partners with HCLSoftware to improve customer engagement precision and relevance. Meanwhile, Paytm has expedited its integration with SBI after NPCI's approval to onboard OCL as a third-party application provider.

SBI Partners with HCLSoftware for Digital Transformation Program - 26 Apr, 2024

State Bank of India partners with HCLSoftware for its five-year digital transformation program using the HCL Unica platform. The stock shows positive momentum with a potential upside of 6.89%, while the chairman emphasizes the need for three strong telecom companies.

SBI Shares Hit Record High Amid Gains - 25 Apr, 2024

State Bank of India (SBI) shares have gained over the past few sessions, hitting a new record high of Rs 805.95. Analysts predict strong Q4 results and steady asset quality outlook for PSU banks like SBI. The stock is trading at a multiple of 1.7x price-to-book.

SBI Chief Expresses Concerns Over Asset Quality; FSIB Recommends New MD - 24 Apr, 2024

State Bank of India's chairman expressed concerns over asset quality on unsecured books. Meanwhile, Financial Services Institutions Bureau recommended Rana Ashutosh Kumar Singh for the position of Managing Director in SBI.

Mixed Day for State Bank of India - 23 Apr, 2024

State Bank of India gained for a third straight session, while its subsidiary SBI Card introduced a new travel-centric credit card. However, an SBI branch was ordered to pay compensation for a wrongful transfer, and news about an SBI Probationary Officer's dedication made headlines.

SBI-Led Consortium Appeals Against Jet Airways Ownership Transfer - 22 Apr, 2024

The State Bank of India-led consortium has appealed against the National Company Law Appellate Tribunal's order that upheld the transfer of ownership of grounded Jet Airways to Jalan Kalrock Consortium. Additionally, SBI may exit Yes Bank if the transaction goes through.

State Bank of India Stock Down for Fifth Straight Session - 19 Apr, 2024

State Bank of India stock is down 0.18% to Rs 743.45, while Nifty Bank index has increased around 2.02% in the last month and is currently quoting at 47069.45, up 0.37% on the day.