SBI

SBI Launches Travel Smart Cards

SBI Launches Travel Smart CardsSBI and Bangalore Metro have given its travelers a new gift of Near Field Communication (NFC) debit cards specially meant for travelling to the Metro stations. With this smart card, the travelers will not have to carry any cash with them.

These cards are transferable and anyone can use it. The NFC chip will be used to trap the check-in records at all the metro stations.

SBI to Soon Hike Its Base Rate by 50-75 bps

SBI to Soon Hike Its Base Rate by 50-75 bpsKnown as the lowest base rate in the industry, State Bank of India’s lending rate will no more be recognized with the same name as the bank has plans of raising its minimum lending rate by 50-75 basis points and that too by later today.

“There is a possibility of hiking base rate by 50-75 basis points by today evening”, the SBI Chairman, Mr. Pratip Chaudhuri told to the reporters today.

Currently, SBI’s base rate is 9.25% and the hike in the lending rate will definitely make home, auto and commercial loans with the bank expensive.

Variable Insurance Plan Initiated by SBI

Variable Insurance Plan Initiated by SBIA new plan introduced by SBI Life will ensure stable returns to investors. ‘Flexi Smart Insurance’ initiated by SBI aims at security for customer’s investment and stable returns.

The investors will be provided with an option to change the assured amount and elasticity of premium payment, along with interim and additional interest rates.

SBI Life MD and CEO, M. N. Rao said, “We will continue to strengthen our simple and smart series so as to cater to the protection and savings needs of multiple customer segments with varied risk— appetite”.

Banks Revise Targets Just after First Fiscal Quarter

Banks Revise Targets Just after First Fiscal QuarterMajor Banks such as State Bank of India and ICICI bank have already altered their credit targets within the first quarter of the fiscal year.

They have changed their considerations for tipping credit and have gone from 20% intake to 18%. SBI had a tipping credit of 19-20% last year but has lowered their expectations to 16-19%. According to MV Nair, CMD, Union Bank, the growth trend is actually decreasing, which is why banks are revising their expectations.

SBI quarterly net profit nose-dives on increased provisions

SBI quarterly net profit nose-dives on increased provisionsMumbai, May 17 : The country's largest lender, State Bank of India (SBI), Tuesday reported a sharp fall in net profit for the quarter ended March 31 at Rs. 20.9 crore, as various provisioning measures, including those for pension, hit the bank's bottom-line.

During the quarter under review, the state-owned banking behemoth saw provisions rise to Rs. 7,420.89 crore, which includes pensions, gratuity and non-performing assets.

Buy SBI With Stop Loss Of Rs 2588

Buy SBI With Stop Loss Of Rs 2588Technical analyst Rahul Mohinder has maintained 'hold' rating on State Bank of India (SBI) Limited stock with a target of Rs 2680.

According to analyst, the investors can buy the stock with a stop loss of Rs 2588.

The stock of the bank, on May 04, closed at Rs 2617.35 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 159.20 and 16.37 respectively.

The share price has seen a 52-week high of Rs 3515 and a low of Rs 2165 on BSE.

Short Term Buy Call For SBI

Short Term Buy Call For SBIInvestment advisor Sanjeev Bhasin has maintained 'buy' rating on State Bank of India (SBI) stock to attain a short-term target of Rs 2950-2980.

According to analyst, the investors can buy the stock with a stop loss of Rs 2880.

Today, the stock of the bank opened at Rs 2924.40 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 159.26 and 18.19 respectively.

The share price has seen a 52-week high of Rs 3515 and a low of Rs 2148.50 on BSE.

Sell SBI With Stop Loss Of Rs 2790

Sell SBI With Stop Loss Of Rs 2790Technical analyst Salil Sharma has maintained 'sell' rating on State Bank Of India (SBI) stock with a target of Rs 2725.

The analyst said that the interested investors can sell the stock at around Rs 2770 with a stop loss of Rs 2790.

Today, the stock of the bank opened at Rs 2760.50 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 3515 and a low of Rs 2027 on BSE.

Current EPS & P/E ratio stood at 159.26 and 17.27 respectively.

As per recent news, State Bank Of India is ready to raise its base rate by 25 bps.

Buy SBI With Stop Loss Of Rs 2610

Buy SBI With Stop Loss Of Rs 2610Technical analyst Simi Bhaumik is bullish on State Bank of India (SBI) and has maintained 'buy' rating on the stock to attain a target of Rs 2654.

Mr. Bhaumik said that the stock can be purchased with a stop loss of Rs 2610.

Today, the stock of the bank opened at Rs 2615 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 3515 and a low of Rs 2027 on BSE.

Current EPS & P/E ratio stood at 159.26 and 16.55 respectively.

The State Bank of India (SBI) bond issue has witnessed strong subscription.

Buy SBI With Stop Loss Of Rs 2615

Buy SBI With Stop Loss Of Rs 2615Technical analyst Rahul Mohinder has maintained 'buy' rating on State Bank of India stock with a target that lies between Rs 2690-2700.

According to analyst, the investors can buy the stock with a stop loss of Rs 2615.

Mr. Mohinder said that the said target can be attained in 2-3 trading sessions.

The stock of the bank, on March 16, closed at Rs 2642.85 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 159.26 and 22.90 respectively.

The share price has seen a 52-week high of Rs 3515 and a low of Rs 2014.20 on BSE.

Hold SBI With Target Of Rs 2900

Hold SBI With Target Of Rs 2900Technical analyst Pradeep Surekha has maintained 'hold' rating on State Bank of India (SBI) stock to achieve a target of Rs 2900.

According to analyst, the stock has strong resistance at Rs 2750.

Today, the stock of the bank opened at Rs 2591.45 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 3515 and a low of Rs 1925 on BSE.

Current EPS & P/E ratio stood at 159.26 and 16.53 respectively.

Govt. supports SBI's teaser loan

Govt. supports SBI's teaser loanIt's a good news of SBI boss O P Bhatt as finally government went on his side on home loan issue after long rounds of meetings and discussions.

There is a long-time conflicts of policy between RBI and banks specially SBI over "teaser rates". RBI wants a clear policy about these flexible-rates loans and wants more capital set aside against loans. Now according to media reports, government has cleared its stand on this. Government official said these loans should be called "terraced" loans.

SBI plans bond issues every quarter

SBI plans bond issues every quarterState Bank of India, India’s biggest lender has come up with bond issues every quarter for mobilising long-term resources. It has planned to spigot retail investors every quarter with bond issues.

SBI in the last quarter has raised Rs 1,000 crore through its retail bonds and is ready to mobilize Rs 10,000 crore through these bonds in the current quarter.

It has been decided by SBI that through this issue it will expand its capital base and has announced that bonds will be offered between, February 21 to 28. This issue is also called Lower Tier II bonds.

SBI announced a hike of 0.25 per cent in its lending rate

SBIState Bank of India (SBI), India’s largest banker has announced on Friday to increase its lending rates by 0.25%. The hike will take effect from Monday, February 14. The bank has its minimum rate at which it can make a loan is called as a base rate.

Hike in base rate means that interest rates on all kinds of loans linked to the base rate will get costlier by that much.

In addition to 0.25% increase in interest rates, the bank also offers an interest rate of 9.25 per cent on fixed deposits of 555 days and 1,000 days maturity.

SBI stock price rose by 3.52% and closed at 2,584.65 on Friday.

Short Term Buy Call For SBI

Short Term Buy Call For SBITechnical analyst Salil Sharma has maintained 'buy' rating on State Bank of India (SBI) stock with a short term target of Rs 2680.

According to analyst, the stock can be bought with a stop loss of Rs 2610.

The stock of the bank, on Feb 08, closed at Rs 2638.70 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 3515 and a low of Rs 1899.90 on BSE.

Current EPS & P/E ratio stood at 159.26 and 16.44 respectively.

SBI chairman to go ahead with teaser loans

SBI chairman to go ahead with teaser loansAs the State Bank of India Chairman Om Prakash Bhatt prepares to step down in March after a five-year term, has expressed his support of the 8 percent teaser loan scheme. The scheme is said to come with no risk for the bank and its customers despite the RBI seeking higher provisioning from such loans.

However in Bhatt’s opinion the scheme is entirely transparent and finds it logical as opposed to the RBI’s concerns that it would reap adverse effects on the bank’s bottom line and share prices.

State Bank of India net profit jumps 14%

State Bank of India (SBI) has made the record making net profit with 14% growth in the third quarter. It has over passed all the estimates made by the analysts.

The bank has posted a net profit of 2,828 crore in the quarter ended December 2010. The net interest income went up by 43% recorded at Rs 9050 crore for October-December 2010.

Some of the analysts were not happy with the performance in terms of earnings. While computing net profit SBI has not made any provisions for special home loans classified as a teaser loan scheme.

SBI chairman OP Bhatt said that the bank would make efforts to sustain its net interest margins. He also said that bank may not able to maintain the credit growth of 20% but can reach up to 18% in the full year.

Long Term Buy Call For SBI

Long Term Buy Call For SBIFairwealth Securities has maintained its buy rating on State Bank of India (SBI) with a long term target of Rs 3140 in its report dated January 19, 2011.

At the current price of Rs 2556, the stock is trading at just 12.18x and 8.85x times of the projected FY11E & FY12E earning.

During the three month period ended December 2010, the bank advances jumped 4.2% QoQ and 15.87% YOY.

Deposits increased 4.9% QoQ and 10.7% YOY on account of robust increase of 27.7% in the bank's CASA deposits.

Buy SBI With Intraday Target Of Rs 2585

Buy SBI With Intraday Target Of Rs 2585Technical analyst Anil Singhvi has maintained 'buy' rating on State Bank of India (SBI) stock with an intra-day target of Rs 2585.

According to analyst, the stock can be purchased on dips with a stop loss of Rs 2475.

The stock of the company, on January 14, closed at Rs 2502.25 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 3515 and a low of Rs 1890 on BSE.

Current EPS & P/E ratio stood at 153.76 and 16.39 respectively.

Buy SBI With Stop Loss Of Rs 2500

SBITechnical analyst Anil Manghnani of Modern Shares and Stockbrokers has maintained ‘buy’ rating on State Bank Of India stock.

The analyst said that the investors can buy the stock with a stop loss of Rs 2500

The stock of the bank, on January 13, closed at Rs 2560.65 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 3515 and a low of Rs 1890 on BSE.

Current EPS & P/E ratio stood at 153.76 and 16.61 respectively.

State Bank of India and Bharti Airtel signed up a JV deal to offer up banking services to the country's unbanked millions.




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