State-owned lenders State Bank of India (SBI) and Punjab National Bank (PNB) are on a drive to auction properties to recover dues.

SBI is holding a mega e-auction where it would sell a record 1,107 properties online on September 7. The properties carry a reserve price of Rs 2,500 crore.

Mumbai: State Bank of India (SBI) on Wednesday said that its committee of directors for capital raising had authorised the bank to raise Rs.11,100 crore worth additional Tier-I (AT-1) capital through issuance of Basel III-compliant perpetual debt instruments.

In a notification to the stock exchanges, the bank said that these perpetual debt instruments will be issued in dollar or rupee terms through private placements to domestic and/or international investors, in as many tranches as it may be considered appropriate by the lender.

MUMBAI:SBI chairman Arundhati Bhattacharya has dismissed speculation that there could be a bubble in retail loan segment. She said speaking at a seminar that retail loans is still less than 10% of the country's GDP, which is far lower than other developing countries, hence there is more room to grow.

New Delhi: State Bank of India (SBI), the nation’s biggest lender by assets, will gain $120 billion in assets following its merger with associate banks and Bharatiya Mahila Bank, the lender said on Saturday.

In a first move to consolidate India’s struggling public sector banks, SBI’s board on Thursday approved share swap ratio for the proposed takeover of five units that had been run at arms-length, as well as state-run Bharatiya Mahila Bank, a bank for women set up in 2013.

State Bank of India (SBI) & its listed associate banks mainly State Bank of Travancore (SBT) and State Bank of Bikaner & Jaipur (SBBJ) have rallied by up to 9% on the BSE in early morning trade after SBI on Thursday approved the share swap ratios for the merger of five associate banks and Bharatiya Mahila Bank with itself.

SBI will issue 28 shares of Rs 1 each for 10 shares of Rs 10 each for the SBBJ, and 22 shares for 10 shares of the SBT. Likewise, shareholders of SBM will also get 22 shares in SBI for every 10 shares held by them in SBM.

Three months after State Bank of India (SBI) announced the merger of its five associate banks with itself, investors who took a large helping of their shares seem to have celebrated too soon.

The SBI stock itself has gained 39%, while shares of its listed associates have surged 26-43% ever since the merger was announced. On the face of it, the merger looks sound. The country’s largest lender will become cost-efficient even as it fattens itself to compete with world-ranking large banks.

Mumbai: In a bid to retain the cream of its corporate customers, India’s largest lender State Bank of India (SBI) is buying into their bond issuances. In the April-June quarter, SBI moved Rs.25,000 crore worth of exposure to high-rated corporates from its loan book to its investment book.

“A bond issuance is always a cheaper source of funding than a loan for a company. If our customers want to convert their loans to a bond exposure, then it makes sense to fund it since the customer will remain within our stable,” said a senior official at SBI, on the condition of anonymity as he is not permitted to be quoted in the press.

State Bank of India (SBI) on Friday reported 31.7% decline in profit to Rs 2,520.96 crore as provisions for bad loans continued to eat into profits.

Its gross bad loans rose only 3% over the preceding quarter to Rs 1.02 lakh crore as of end-June, much less than expected. This led to the share price closing 7.16% higher at Rs 243.20.

State Bank of India (SBI), the nation's top lender by assets, reported a 32% drop in first-quarter on Friday which was in line with estimates. The bank's bad loans rose slightly.

SBI shares rose more than 8.5% at 1320 hours after the results on the lower-than-expected rise in bad loans.

MUMBAI: State Bank of India has directed five associate banks to clean up their books as a prelude to the proposed merger — the move that has led to Rs 2,018 crore combined losses of associate banks in the first quarter ending June this year.

Senior officials from the State Bank group told ET that the associate banks were told to align the classification of loans with the parent bank, even if it requires them to take a hit on bottomline.

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