State Bank of India will hold a meeting of the Board of Directors of the Company on 8 November 2024.Powered by Capital Market - Live

The agency has also reaffirmed its 'CRISIL AAA/CRISIL AA+/Stable/CRISIL A1+' ratings on the other debt instruments. CRISIL stated that the ratings continue to centrally factor in the SBI group's dominant market position in the Indian banking industry, strong resource profile and adequate capitalisation. The ratings also factor in the continued strong support that the bank is likely to receive from its majority owner, Government of India (GoI), both on an ongoing basis and in the event of distress. These strengths are partially offset by the average asset quality of the group. There are upward factors to the current rating of SBI. However, material change in expectation of support from GoI; and significant and continuous increase in delinquencies (GNPAs crossing 10%), leading to decline in profitability could lead to a ratings downgrade. State Bank of India (SBI) is the oldest and largest bank in India. As on March 31, 2024, GoI owned 56.92% of the bank's equity capital. The SBI group offers a wide range of banking and non-banking products and services to its corporate and retail customers. The bank had 22,542 branches and 63,580 automated teller machines (ATMs) as on March 31, 2024. It has presence across the world. Through its non-banking subsidiaries and joint ventures, it offers a wide range of financial services, such as investment banking, credit cards, life insurance, general insurance, fund management, primary dealership, broking and factoring. The scrip rose 0.11% to currently trade at Rs 805.50 on the BSE. Powered by Capital Market - Live

CRISIL Ratings has assigned its 'CRISIL AA+/Stable' rating to the Rs 5,000 crore Tier I Bonds under Basel III of State Bank of India and has reaffirmed its 'CRISIL AAA/CRISIL AA+/Stable/CRISIL A1+' ratings on the other debt instruments. Powered by Capital Market - Live

The Nifty October 2024 futures closed at 25,119.15, a premium of 137.20 points compared with the Nifty's closing 24,981.95 in the cash market. In the cash market, the Nifty 50 lost 31.20 points or 0.12% to 24,981.95. The NSE's India VIX, a gauge of market's expectation of volatility over the near term, fell 3.44% to 14.09. State Bank of India, HDFC Bank and ICICI Bank were the top traded individual stock futures contracts in F&O segment of NSE. The October 2024 F&O contracts will expire on 31 October 2024. Powered by Capital Market - Live

Moody's Investor Service has affirmed the Baa3 long-term local and foreign currency bank deposit ratings of State Bank of India (SBI). Moody's has also affirmed SBI's Baseline Credit Assessment (BCA) and Adjusted BCA to ba1. The outlook on the SBI's ratings remains stable. Powered by Capital Market - Live

State Bank of India has raised Rs. 7,500 Non-convertible, Taxable, Redeemable, Subordinated, Unsecured, Fully Paid-up Basel III compliant Tier 2 Bonds in the nature of debentures of face value Rs.1 crore each at a coupon of 7.33%.Powered by Capital Market - Live

State Bank of India (SBI) raised Rs. 7,500 crore today at a coupon rate of 7.33% through its second Basel III compliant Tier 2 bond issuance for the current financial year. The bonds are issued for a tenor of 15 years, with call option after 10 years and each anniversary dates thereafter and are rated AAA with stable outlook from CRISIL Ratings and CARE Ratings.Powered by Capital Market - Live

Bank SBI Indonesia (BSBII), the overseas Banking subsidiary of State Bank of India in Indonesia has an SBI holding of 99.56% stake. For the purpose of Regulatory compliance of meeting minimum 1% of local shareholding requirement, BSBII has proposed to issue preference shares to PT Bank KEB Hana, Indonesia. As part of the arrangement, State Bank of India, PT Bank KEB Hana Indonesia and Bank SBI Indonesia have signed Shareholders' Agreement on 10 September 2024, which allows Bank KEB Hana Indonesia to invest in 1% shares of Bank SBI Indonesia by way of preference shares. PT Bank KEB Hana Indonesia is a subsidiary of South Korean financial institution, Hana Financial Group. After induction of Bank KEB Hana as minority shareholder, SBI's shareholding will be 99% in Bank SBI Indonesia.  Powered by Capital Market - Live

State Bank of India announced that CRISIL Ratings has assigned its 'CRISIL AAA/Stable' rating to the Rs 7,500 crore Tier II Bonds under Basel III of State Bank of India and has reaffirmed its 'CRISIL AAA/CRISIL AA+/Stable' ratings on the other debt instruments. CRISIL Ratings has also withdrawn its rating on Tier I bonds of Rs 3104.8 crore (See 'Annexure - Details of Rating Withdrawn' for details) in line with its withdrawal policy. CRISIL Ratings has received independent verification that these instruments are fully redeemed. The ratings continue to centrally factor in the SBI group's dominant market position in the Indian banking industry, strong resource profile and adequate capitalisation. The ratings also factor in the continued strong support that the bank is likely to receive from its majority owner, Government of India (GoI), both on an ongoing basis and in the event of distress. These strengths are partially offset by the average asset quality of the group. Powered by Capital Market - Live

The Nifty September 2024 futures closed at 24,993.30, a premium of 56.90 points compared with the Nifty's closing 24,936.40 in the cash market. In the cash market, the Nifty 50 rose 84.25 points or 0.34% to 24,936.40. The NSE's India VIX, a gauge of market's expectation of volatility over the near term, slipped 6.43% to 14.24. State Bank of India, ICICI Bank and HDFC Bank were the top traded individual stock futures contracts in F&O segment of NSE. The September 2024 F&O contracts will expire on 26 September 2024. Powered by Capital Market - Live