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[hfe_template id='11223'] [ad_1] Shares of India’s largest PSU lender State Bank of India (SBI) jumped 2.6% to hit a day’s high of Rs 713.55 on the BSE today after the global brokerage firm Citi issued a double upgrade on the stock, moving its rating from ‘sell’ to ‘buy’ and raising the target price to Rs 830. The revised price target suggests an upside potential of 19.4% in the stock from Monday’s closing price. Citi’s latest upgrade comes on the back of strong growth visibility, supported by Xpress Credit traction, a robust corporate pipeline, and an accelerated rollout of home loans (HL). The brokerage firm highlighted SBI’s ability to contain unsecured retail slippages at 0.5%, along with a reduction in the SMA-2 pool, which is expected to curb credit costs. Citi also pointed out that SBI’s valuations remain inexpensive, trading at 0.85x book value, supported by a 1% return on assets (RoA) and a 15% return on equity (RoE). Following this optimistic outlook, investor ...

[hfe_template id='11223'] [ad_1] State Bank of India (SBI) shares will be in focus on Friday after the public sector lender reported an 84% year-on-year (YoY) rise in standalone net profit for the December quarter, reaching Rs 16,891 crore compared to Rs 9,163 crore in the same period last year. The profit exceeded Street estimates of Rs 16,219 crore. SBI's net interest income (NII) for Q3FY25 increased by 4.09% YoY to Rs 41,620 crore from Rs 39,816 crore reported in the year-ago period. Meanwhile, the net interest margin (NIM) contracted by 19 bps YoY and 12 bps QoQ to 3.15% in the reported quarter. SBI's operating profit for Q3FY25 grew by 15.81% YoY to Rs 23,551 crores. Also Read: Will RBI cut interest rates? Morgan Stanley identifies stocks that could benefit the most The interest income in Q3FY25 stood at Rs 1,17,427 crore, up 10% over Rs 1,06,734 crore reported in the corresponding quarter of the last financial year. State Bank of India Q3 Credit Growth The...

[hfe_template id='11223'] [ad_1] Shares of the state-owned State Bank of India (SBI) fell by 2.2% on Thursday to an intraday low of Rs 820.10 on the BSE as the company announced the appointment of Rama Mohan Rao Amara as the Managing Director (MD) of the bank. “Vide Notification No. 2/1/2024-BO.I dated 18.12.2024, issued by Department of Financial Services, Ministry of Finance, Government of India, it has been notified that- “In exercise of powers conferred by clause (b) of section 19 read with sub-section (1) of section 20 of the State Bank of India Act, 1955 (23 of 1955), the Central Government hereby appoints Shri Rama Mohan Rao Amara, Deputy Managing Director, State Bank of India as Managing Director in State Bank of India,” said the company in its filing to the exchange. The company further informed that the appointment has been made for a period of 3 years, which will take effect from the date of assumption of the charge of his post. Rama Mohan Rao Amara previously...