SBI

June 3, 2024 4:45 PM

SBI’s market cap crosses Rs 8 lakh crore, stocks surge to all-time high

The market capitalization of the State Bank of India (SBI) crossed the Rs 8 lakh crore mark on Monday after the bank's shares surged by 9 per cent during a rally in the stock market, hitting an all-time high of Rs 912. SBI's shares have increased by more than 50 per cent in the past six months. Finance Minister Nirmala Sitharaman recently posted on social media that India's banking sector had achieved a significant milestone by recording its highest-ever net profit, exceeding Rs 3 lakh crore. ...

SBI’s net profit grows 18% in fourth quarter, 20.5% for entire 2023-24

The State Bank of India (SBI), the country's largest lender, has reported an 18 percent rise in consolidated net profit at Rs 21,384 crore for the quarter that ended in March, aided by strong credit growth. SBI reported a net profit of Rs 18,094 crore in the year-ago period. Consolidated net profit during the entire financial year 2023-24 rose by 20.55 per cent to Rs 67,085 crore as against Rs 55,648 crore in the preceding year. SBI's interest earned, in consolidated terms, grew 19.8 per ce...