Tag: State Bank of India

SBI Q1 Results FY26: Net Profit Rises 12% to ₹19,160 Crore, Asset Quality Improves

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SBI Q1 Results FY26: Net Profit Rises 12% to ₹19,160 Crore, Asset Quality Improves

The logo of State Bank of India (SBI) is seen on the facade of its headquarters in Mumbai. | Photo Credit: Reuters The country’s largest lender State Bank of India (SBI) for the first quarter ended June 30, 2025 reported 12.48% Year on Year (YoY) growth at ₹19,160 crore due to operational efficiency and treasure…

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Business

SBI pegs India’s Q3FY25 GDP growth at 6.2%-6.3%

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SBI pegs India’s Q3FY25 GDP growth at 6.2%-6.3%

Representational image. | Photo Credit: REUTERS The Economic department of State Bank of India (SBI) has pegged India’s Gross Domestic Product (GDP) growth for Q3 FY25 at 6.2% to 6.3%. “Impinging upon our in-house developed ‘Nowcasting Model’ that leverages 36 high frequency indicators, we estimate the GDP growth for Q3 FY25 should come around 6.2%-6.3%…

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Business

Government Appoints Rama Mohan Rao Amara As SBI Managing Director

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Government Appoints Rama Mohan Rao Amara As SBI Managing Director

The SBI board is headed by a Chairman assisted by four managing directors. New Delhi: The government has approved the appointment of Rama Mohan Rao Amara for the position of managing director of the State Bank of India (SBI). Mr Amara, Deputy Managing Director, State Bank of India, has been appointed as managing director in…

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Nation

SBI Q2 net profit jumps 23% to ₹19,782 cr

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SBI Q2 net profit jumps 23% to ₹19,782 cr

Photo used for representation purpose only. | Photo Credit: Reuters SBI on Friday (November 8, 2024) reported a 23% on-year jump in consolidated net profit at ₹19,782 crore for the quarter ended September 30, 2024. The consolidated net profit for the corresponding period last year stood at ₹16,099 crore. On a standalone basis, the country’s…

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Business

Sensex, Nifty close lower amid massive selling in heavyweight stocks, mixed global cues

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Sensex, Nifty close lower amid massive selling in heavyweight stocks, mixed global cues

Bombay Stock Exchange (BSE). File | Photo Credit: Reuters Equity benchmark indices Sensex and Nifty settled lower for the sixth straight session on Monday (October 7, 2024) due to heavy selling in bellwether stocks including HDFC Bank and Reliance Industries amid mixed trends in the global markets and outflow of foreign funds. Falling for the…

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Business

SBI to add 600 branches in its network during FY25: Chairman Setty

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SBI to add 600 branches in its network during FY25: Chairman Setty

State Bank of India (SBI) Chairman Challa Sreenivasulu Setty. File | Photo Credit: Nagara Gopal State Bank of India (SBI) is planning to open 600 branches across the country in the current financial year in a bid to tap business opportunities in emerging areas including large residential townships. “We have strong branch expansion plans…this would…

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Business

Stock markets settle flat in highly volatile trade; oil & gas, FMCG shares major drag

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Stock markets settle flat in highly volatile trade; oil & gas, FMCG shares major drag

According to exchange data, equities worth ₹9,791.93 crore were sold by FIIs on Monday, September 30, 2024, while Domestic Institutional Investors DIIs purchased equities valued at ₹6,645.80 crore. File | Photo Credit: Reuters Benchmark indices Sensex and Nifty edged lower on Tuesday (October 1, 2024), extending the losing run to the third day amid profit-taking…

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Business

Centre approves appointments of new Chairman, Managing Director of SBI

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Centre approves appointments of new Chairman, Managing Director of SBI

 Challa Sreenivasulu Setty The central government has approved the appointment of Challa Sreenivasulu Setty as new Chairman and Rana Ashutosh Kumar Singh as Managing Director of the State Bank of India (SBI) as the current Chairman, Dinesh Kumar Khara, is set to retire on August 28. According to a notification by the Department of Personnel…

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Business

SBI Q1 results: Net profit rises marginally at ₹17,035 crore; gross NPAs decline to 2.21%

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SBI Q1 results: Net profit rises marginally at ₹17,035 crore; gross NPAs decline to 2.21%

SBI posted a net profit of ₹16,884 crore in the April-June quarter of 2023-24. File | Photo Credit: Reuters State Bank of India (SBI) on August 3 reported an almost flat standalone net profit at ₹17,035 crore for the first quarter of the current financial year. The country’s biggest lender had posted a net profit…

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Business

Union Budget should focus on fiscal prudence, tax restructuring, agriculture reforms: SBI Research

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Union Budget should focus on fiscal prudence, tax restructuring, agriculture reforms: SBI Research

A report by the SBI called for more reforms in the banking sector in India. File | Photo Credit: Reuterss As the Central government prepares for the Union Budget presentation on July 23, a research report by the State Bank of India (SBI) has highlighted crucial areas that need attention to drive sustainable economic growth…

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