DOCSLIB.ORG

State Bank of India (STABAN)

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
State Bank of India (STABAN) State Bank of India (STABAN) CMP: | 457 Target: | 540 (18%) Target Period: 12 months BUY August 5, 2021 NPA resilience continues; improving outlook… About the stock: SBI is a public sector bank and also the largest bank in India with a balance sheet size of over | 45 lakh crore. Particulars Strong liability franchisee with trend setting abilities in terms of rates. Particulars Amount Best operating metrics in the PSU banking space Market Capitalisation | 407899 Crore 52 week H/L 467/175 Networth | 261280 Crore Face value | 1 Update Result Q1FY22 Results: Steady operating performance; asset quality resilient. Shareholding pattern GNPA rose 34 bps QoQ to 5.32%; restructuring up 28 bps to ~1% Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Promoter 57.6 57.6 57.6 57.6 57.6 NII up 3.74% YoY, NIM up 2 bps QoQ to 2.92, C/I down 260 bps to 51.9% FII 7.9 7.8 9.8 9.9 10.3 Provision buffer at | 29816 crore, including Covid provisions at | 9065 crore DII 24.7 25.5 24.9 24.4 24.2 Others 9.8 9.1 7.7 8.0 7.8 Advances down 0.7% QoQ and deposits up 1.1% QoQ to | 37.2 lakh crore Price Chart 500 20000 What should investors do? SBI’s share price has surged ~2x in the past five years. 400 15000 300 10000 We believe considering overall strength in liability franchisee, decent provisioning 200 cover and quick recovery with unlocking should be positives for SBI. 100 5000 0 0 We retain our BUY rating on the stock. Feb-19 Feb-20 Feb-21 Aug-19 Aug-20 Aug-21 Target Price and Valuation: We value the bank at ~1.25x FY23E ABV and Aug-18 subsidiaries at ~| 180 per share to arrive at a revised TP of | 540 from | 500 earlier. SBI Nifty Index Risk to our call Key triggers for future price performance: GNPA increased from 4.98% to 5.32% QoQ. Overall slippage ratio at 2.47% Healthy recovery in July 2021 depicts resilience on asset quality Key Risk: (i) Third wave remains a risk Research Equity Retail Improving credit-deposit ratio, thus, NIMs to aid operational performance for asset quality (ii) volatile recovery in – MSME exposure Additional provisioning to the tune of 1% provides cushion Research Analyst Healthy pipeline to aid business growth and overall performance Kajal Gandhi [email protected] Alternate Stock Idea: Besides SBI, in our coverage we also like Bank of Baroda. Vishal Narnolia [email protected] Securities ICICI Bank of Baroda is the second largest PSU with decent prospects of meaningful improvement in operational performance Sameer Sawant [email protected] BUY with target price of | 100 Key Financial Summary 4 Year CAGR 2 Year CAGR | Bn FY19 FY20 FY21 FY22E FY23E (FY17-21) (FY21-23E) NII 883 981 1107 10% 1217 1361 11% PPP 539 681 716 5% 765 856 9% PAT 9 145 204 - 272 319 25% ABV (|) 174.0 203.2 243.3 262.4 292.2 P/E 485 28 20 15 13 P/ABV 2.6 2.2 1.9 1.7 1.6 RoA 0.0 0.4 0.5 0.6 0.6 s RoE 0.5 6.4 8.4 10.2 10.8 Source: Company, ICICI Direct Research Result Update | State Bank of India ICICI Direct Research Key takeaways of recent quarter & conference call highlights Q1FY22 Results: Stress accretion in line with industry Fresh slippages at | 15666 crore vs. | 21934 crore, slippage ratio at 2.47%. Contribution to slippages mainly came in from retail (| 5268 crore) and SME segment (| 6416 crore). July has seen meaningful pullback of slippages Amid lockdown, loan growth came in at 5.8% YoY to | 25.24 lakh crore. Retail (personal) advances growth continued to remain strong at 16.4% YoY while SME advances remained muted at 2% YoY and corporate book de-grew 2.3% Deposits grew 8.8% YoY and de-grew 1% QoQ to | 37.2 lakh crore; boosted by savings & current deposit. Saving deposits grew 10.6% YoY. CASA ratio declined marginally from 46.13% in Q4FY21 to 45.97% in Q1FY22 NII had subdued growth owing to muted margin, which, in turn, got impacted due to lower credit deposit ratio Provision buffer increased from | 25376 crore to | 29816 crore Q1FY22 Earnings Conference Call highlights Seeing good opportunities in UK, US and Hong Kong for international book Total loan growth expected at ~9% for FY22E Total 25% growth expected in Xpress credit wherein yields are ~11% and slippages are at ~70 bps Strong recovery at | 4790 crore in July 2021 Collection efficiency for July was at ~93.5% vs. ~92% in June Total restructured book at | 20297 crore, of which | 9000 crore is from retail and | 3000 crore from SME Interest income reversal at ~| 800 crore ECLGS outstanding at | 22000 crore Peer comparison Exhibit 1: ICICI Direct coverage universe (BFSI) CMP M Cap EPS (|) P/E (x) P/ABV (x) RoA (%) RoE (%) Sector / Company (|) TP(|) Rating (| Bn) FY21 FY22E FY23E FY21 FY22E FY23E FY21 FY22E FY23E FY21 FY22E FY23E FY21 FY22E FY23E BoB (BANBAR) 83 100 Buy 408 1.6 9.5 14.1 51.8 8.7 5.9 0.8 0.7 0.6 0.1 0.4 0.6 1.1 6.2 8.6 SBI (STABAN) 457 540 Buy 4078 22.9 30.5 35.8 20 15.0 12.8 1.9 1.7 1.6 0.5 0.6 0.6 8.4 10.2 10.8 Indian Bank (INDIBA) 140 180 Buy 158 26.6 32.9 46.7 5.3 4.3 3.0 0.7 0.7 0.6 0.6 0.6 0.8 9.9 10.4 13.5 Axis Bank (AXIBAN) 756 900 Buy 2318 25.2 47.7 58.7 30.0 15.9 12.9 2.7 2.3 1.9 0.8 1.3 1.4 8.1 13.8 15.2 City Union (CITUNI) 154 200 Buy 114 8.4 10.0 12.0 18.4 15.3 12.8 2.3 2.0 1.7 1.2 1.3 1.4 11.2 11.9 12.6 DCB Bank (DCB) 103 110 Buy 32 10.8 12.3 15.6 9.5 8.4 6.6 1.1 0.9 0.8 0.9 0.9 1.1 10.2 10.5 11.8 Federal Bank (FEDBAN) 87 100 Buy 174 8.0 9.5 12.0 11.0 9.2 7.2 1.2 1.1 1.0 0.8 0.9 1.0 10.4 11.8 13.4 HDFC Bank (HDFBAN) 1,434 1,800 Buy 7928 56.4 66.4 77.8 25.4 21.6 18.4 4.0 3.6 3.2 1.9 1.9 2.0 16.6 17.0 17.9 IndusInd Bank (INDBA) 975 1,150 Buy 755 36.7 65.1 78.6 26.6 15.0 12.4 1.8 1.6 1.4 0.8 1.3 1.4 7.3 10.8 11.6 Kotak Bank (KOTMAH) 1,740 2,040 Buy 3451 35.1 43.2 51.4 49.5 40.3 33.9 5.6 5.0 4.3 1.8 1.9 2.0 12.4 12.0 13.1 CSB Bank (CSBBAN) 352 380 Buy 61 12.6 18.3 25.5 27.9 19.2 13.8 3.3 2.9 2.4 0.1 1.0 1.2 10.5 13.6 16.4 Bandhan (BANBAN) 298 330 Hold 480 14.7 24.7 31.4 20.2 12.0 9.5 3.4 2.7 2.1 2.3 3.2 3.3 15.0 21.9 22.2 IDFC First (IDFBAN) 51 60 Buy 318 0.8 0.6 2.9 64.3 86.8 17.6 1.6 1.3 1.2 0.3 0.2 0.9 2.7 1.8 7.3 Source: Company, ICICI Direct Research SBI is amongst better managed PSU banks with multiple levers present to drive improvement in operational performance. ICICI Securities | Retail Research 2 Result Update | State Bank of India ICICI Direct Research Exhibit 2: Variance Analysis Q1FY22 Q1FY22E Q1FY21 YoY (%) Q4FY21 QoQ (%) Comments Subdued growth owing to flat business growth and limited NII 27,638 27,606 26,642 3.7 27,067 2.1 margin expansion NIM (%) 2.9 2.7 3.0 -9 bps 2.9 2 bps NIMs improve marginally as stress accertion limits expansion Other Income 11,803 9,900 9,497 24.3 16,225 -27.3 Lower QoQ due to fall in fee income and lower recoveries Net Total Income 39,441 37,506 36,139 9.1 43,292 -8.9 Opex decline as business activity was restricted due to Operating expense 20,466 21,804 18,078 13.2 23,592 -13.2 lockdowns PPP 18,975 15,702 18,061 5.1 19,700 -3.7 Provision 10,052 8,200 12,501 -19.6 11,051 -9.0 Elevated provisions due to rise in stress PBT 8,923 7,502 5,560 60.5 8,649 3.2 Tax Outgo 2,419 1,913 1,370 76.6 2,198 10.0 PAT 6,504 5,589 4,190 55.2 6,451 0.8 Key Metrics GNPA 1,34,259 1,31,886 1,29,661 3.5 1,26,389 6.2 Slippages remain high resulting GNPA rise QoQ NNPA 43,153 38,010 42,704 1.1 36,810 17.2 Advances 2431908 2425003 2298346 5.8 2449497.79 -0.7 Loan growth flattish sequentially due to lockdowns imposed Deposits 3720987 3795493 3419363 8.8 3681277.08 1.1 Source: Company, ICICI Direct Research Exhibit 3: Change in Estimates FY22E FY23E | crore Old New Change (%) Old New Change (%) Net Interest Income 136519 121708 -10.8 149003.8 136067 -8.7 Pre Provisions Profit 89982 76533 -14.9 97285.1 85551 -12.1 NIM (%) 3.2 2.8 -35 3.2 2.9 -28 PAT 37154 27224 -26.7 40491.2 31903 -21.2 ABV per share (|) 283 262 -7.2 324.5 292 -10.0 Source: Company, ICICI Direct Research Exhibit 4: Change in Assumption Current Earlier FY22E FY23E FY22E FY23E Credit growth (%) 9.7 10.0 9.7 10.0 Deposit Growth (%) 9.4 9.4 9.4 9.4 Cost to income ratio (%) 54.8 54.6 51.2 51.7 GNPA ratio (%) 4.8 4.4 4.1 3.5 NNPA ratio (%) 1.7 1.7 1.4 1.3 Source: Company, ICICI Direct Research Exhibit 5: SOTP Valuation FY23E / Share SBI (merged banks) 362 SBI AMC 39 SBI Life 78 SBI cards 80 SBI General Insurance 13 Value per share 571 Holding company discount for subsidiaries @15% 31 Value per share post discount 540 Source: Company, ICICI Direct Research ICICI Securities | Retail Research 3 Result Update | State Bank of India ICICI Direct Research Financial summary Exhibit 6: Profit and loss statement | Bn Exhibit 7: Key Ratios (Year-end March) FY19 FY20 FY21 FY22E FY23E (Year-end March) FY19 FY20 FY21 FY22E FY23E Interest Earned 2,429 2,573 2,652 2,947 3,272 Valuation Interest Expended 1,545 1,592 1,544 1,730 1,911 No.
Load more

Recommended publications
  • State Bank of India – the Nation's Most Trusted Bank
    Press Release – For Immediate Release State Bank of India – the Nation’s Most Trusted Bank Brand Finance launches banking market research on India’s bank brands Indian banks enjoy an average trust score of 69.8% compared to 64.9% recorded by US banks State Bank of India is the nation’s most trustworthy bank with a score of 86.4% Over 50% of customers of the Oriental Bank of Commerce and the UCO Bank 'very likely' to switch to competition Brand Finance conducted research on bank brands in 22 markets to see how customers’ opinions have changed in an era of major disruption to the industry. As global banks retreated after the Great Recession, the traditional banking model has changed. The prevailing trends suggest fintechs and niche “challenger banks” are biting into banks’ profits and luring their customers away with better quality service at lower prices. Traditional banks tend not to be set up as quick innovators. Instead, they compete for customers’ trust and our research indicates which banks are the most trustworthy. State Bank of India was deemed the most trusted bank in the country with a trust level of 86.3% as well as the most popular bank among those customers that were looking to switch to competition with 21.4% declaring they would choose the brand over others. State Bank of India is the country’s largest commercial bank in terms of assets, deposits, branches, number of customers and employees. On the opposite end of the ranking, over 50% of customers of the Oriental Bank of Commerce and the UCO Bank were 'very likely' to switch to competition.
    [Show full text]
  • CP (IB) No. 01/MB/2018]
    NCLT Mumbai Bench IA No. 1031/2020 in [CP (IB) No. 01/MB/2018] IN THE NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH, SPECIAL BENCH II *** *** *** IA No. 1031 of 2020 in [CP (IB) No. 01/MB/2018] Under Section 60(5) of Insolvency and Bankruptcy Code, 2016 *** *** *** In the matter of STATE BANK OF INDIA Versus VIDEOCON TELECOMMUNICATIONS LIMITED Between ABHIJIT GUHATHAKURTA, Resolution Professional for 13 Videocon Group Companies Flat No. 701, A Wing, Satyam Springs, Cts No. 272a/2/l, Off BSD Marg, Deonar, Mumbai City, Maharashtra, 400088 … Applicant and DEPARTMENT OF TELECOMMUNICATIONS Ministry of Communications, Access Service Branch, AS-1 Division, Sanchar Bhawan, 20, Ashoka Road, New Delhi- 110001 … Respondent No. 1 BANK OF BARODA 3rd Floor, 10/12, Mumbai Samachar Marg, Fort, Mumbai- 400 001 … Respondent No. 2 Date of Order: 07.10.2020 CORAM: Hon’ble Janab Mohammed Ajmal, Member Judicial Hon’ble Ravikumar Duraisamy, Member Technical Appearance: For the Applicant : Senior Counsel Mr. Gaurav Joshi with Ms. Meghna Rajadhyaksha. For the Respondents : None Page 1 of 8 NCLT Mumbai Bench IA No. 1031/2020 in [CP (IB) No. 01/MB/2018] Per: Janab Mohammed Ajmal (Member Judicial) ORDER This is an Application by the Resolution Professional of the Corporate Debtor seeking necessary direction against the Respondent(s). 2. Facts leading to the Application may briefly be stated as follows. The Videocon Telecommunications Limited (hereinafter referred to as the Corporate Debtor) had availed various credit facilities from the State Bank of India and other Banks including Bank of Baroda (Respondent No. 2). The Department of Telecommunications, Government of India (Respondent No.
    [Show full text]
  • State Bank of India, Maharashtra Circle
    STATE BANK OF INDIA, MAHARASHTRA CIRCLE IMPORTANT ANNOUNCEMENT ENGAGEMENT OF RETIRED OFFICERS/ EMPLOYEES OF STATE BANK OF INDIA/ E-ABs AND RETIRED OFFICERS OF PSBs FOR DIFFERENT ROLES IN ANYTIME CHANNEL VERTICAL ON CONTRACT BASIS (Last Date – 21.06.2020) Applications are invited from retired employees and officers of the State Bank of India/ e-ABs of State Bank of India (retired as Clerical and retired in Scale I to IV) and Retired Officers of other PSBs (retired in Scale I to IV), who retired from Bank’s service on attaining superannuation on or before 31.05.2020 and should not have completed 63 years of age as on 30.06.2020, for engagement in the Anytime Channel Vertical, on contract basis. The applicant should have retired with good track record and no punishment/ penalty should have been inflicted on the retired employee/ officer during five years of his service in the Bank preceding his retirement. The retired employee/officer voluntarily retired/ resigned/suspended/ who have left the Bank otherwise before superannuation are not eligible for consideration for appointment. Applicant should be resident of the area, where AO/RBO is functioninq. Preference will be given to the officials who have worked in ATM operations. All interested eligible retired employees and officers are advised to send a scanned copy of their application as per Annexure II to the email id [email protected] (with cc to [email protected]). The last date for receipt of scanned copy of the application is 21.06.2020. The tentative region wise vacancies of Channel Manager Supervisor (CMS) and Channel Manager Facilitator (CMF) are placed below.
    [Show full text]
  • Financial Performance of State Bank of India and Icici
    FINANCIAL PERFORMANCE OF STATE BANK OF INDIA AND ICICI BANK – A COMPARATIVE STUDY D.Padma1 and V.Arulmathi2 1Associate Professor, Sree Saraswathi Thyagaraja College, Thippampatti, Pollachi, India. Email-id: [email protected] 2M.Phil. Research Scholar, N.G.M. College, Pollachi Abstract State Bank of India (SBI) and ICICI Bank are the two largest banks in India in public and private sector. Performance and efficiency of commercial banks are the key elements of countries financial system. In view of this, the study set out to apply Profitability ratios, Solvency ratios and Management efficiency ratios on SBI and ICICI Bank in order to compare their efficiency and solvency position. On basis of the analysis, it has been found that both the banks are maintaining the required standards and running profitably. This comparative study of SBI and ICICI Bank demonstrates that there are significant differences on the performance of SBI and ICICI Bank in terms of Deposits, Advances, Investments, Net profit, and Total assets. Based on the study, it can be said that SBI have an extensive operation than ICICI Bank. Keywords: SBI, ICICI, Profitability Ratios, Solvency Ratios, Efficiency ratios. 1. INTRODUCTION branches of its five Associate Banks, and is also accountable for one-fifth of the loans of India. It has about 8500 ATMs The banking industry plays an important role in the economic across the nation. development of a country. It supplies the lifeblood-money that supports and fosters growth in all the industries. Growth 1.2 ICICI Bank of the banking sector is measured by the increase in the number of banks’ branches, deposits, credit, etc.
    [Show full text]
  • SBI Digital Transformation
    YONO by SBI (You Only Need One) An Omni-channel app for Lifestyle & Banking needs State Bank of India is among the largest retail banks in the world #1 SBI Online is India’s most and the Largest Bank in India 423 Mn+ customer USD 550 Bn+ World’s 5th most visited (Balance Sheet Size, base business size banking site Branches) 80% transactions on 32.7 Mn+ Internet 59,263 85.7 Mn+ Financial Anytime/ Digital banking users Pan-India ATMs Inclusion accounts channels 52,340 + Customer 24.5 Mn+ FI accounts Service Points under opened during the year Business Correspondent model 2 SBI – a dominant player in digital space SBI has always been in the forefront of Digital Banking innovations Key digital payment products: • YONO by SBI • Mobile Banking • Internet Banking • State Bank Buddy (e-Wallet) • Debit & Pre-paid cards • Merchant Acquiring Business i.e. PoS terminals • Aadhar Pay • Bharat QR • UPI 3 We embarked on one of the largest digital transformation programs ever with three key aspirations End to end digitization to A digital bank for enhance customer experience nearly one-third the nation and increase wallet share India’s biggest marketplace with 75+ partners and Other financial products of SBI group 4 Core elements of the Digital proposition . 100% digital experience, eliminating need to visit branches . One view for customer of all wealth and financial assets Digital bank . Digital onboarding of customers through e-KYC and biometric authentication . Online loan products for retail customers (PAPL to begin with) . All financial products of SBI group on a single platform Financial .
    [Show full text]
  • State Bank of India, Local Head Office, Hoshangabad Road, Bhopal 462011
    TENDER ID: BHO201904024 23.04.2019 SBI INFRA MANAGEMENT SOLUTIONS PVT.LTD. Mezzanine Floor, State Bank of India, Local Head Office, Hoshangabad Road, Bhopal 462011 PART – A : TECHNICAL BID TENDER FOR: PROVIDING AND SUPPLYING UNIFORM TIMING DISPLAY BOARD AT ALL REGIONAL BUSINESS OFFICES UNDER THE CONTROL OF LOCAL HEAD OFFICE, BHOPAL CIRCLE TENDER SUBMITTED BY : NAME : __________________________________ ADDRESS : __________________________________ __________________________________ __________________________________ DATE : __________________________________ Signature of Contractor with Seal TENDER ID: BHO201904024 23.04.2019 NOTICE INVITING TENDERS SBIIMS on behalf of SBI invites “online item rate E-tender” from the SBIIMS Empaneled contractors under appropriate category for the captioned work. The SBIIMS Empaneled contractors who receive NIT from this office are only entitled to quote for this tender. The details of tender are as under: S.No. Description 1. Name of work Providing and Supplying Uniform Timing Display Board at all Regional Business Offices under the control of Local Head Office, Bhopal Circle. 2. Nature of Work Interior Work 3. Time allowed for completion 20 (Twenty) Days 4. Tender Processing Fees Tender Processing Fee amounting to Rs 3000.00 (Rupees Three Thousand only) (Non-Refundable) to be credited only through State Bank Collect. The steps involved in making the payment is provided at Annexure-A .The receipt generated with the Reference no. will be submitted along with the EMD as a proof for payment. 5. Earnest Money Deposit Rs.23,000/- (Twenty Three Thousand only) by means of Demand Draft / Pay Order (Valid for a period of 90 Days from the last date of submission of the tender) from any scheduled Nationalized Bank drawn in favour of SBI Infra Management Solutions Pvt.
    [Show full text]
  • List of Bank Names
    List of Banks for e-BRC Registration and Uploading S No. Name of Bank User Id (7 characters) Remarks 1 Abhyudaya Co-op Bank Ltd ABHY001 First four characters are IFSC code +001 2 Abu Dhabi Commercial Bank Ltd ADCB001 First four characters are IFSC code +001 3 National Bank of Abu Dhabi PJSC NBAD001 First four characters are IFSC code +001 4 AB Bank Ltd. ABBL001 First four characters are IFSC code +001 5 Ahmedabad Mercantile Co-op Bank First four characters are IFSC code +001 AMCB001 6 Allahabad Bank ALLA001 First four characters are IFSC code +001 7 Andhra Bank ANDB001 First four characters are IFSC code +001 8 Antwerp Diamond Bank Mumbai ADIA001 First four characters are IFSC code +001 9 Australia and New Zealand Banking ANZB001 First four characters are IFSC code +001 Group Limited 10 Axis Bank UTIB001 First four characters are IFSC code +001 11 Bank Of America BOFA001 First four characters are IFSC code +001 12 Bank Of Bahrain And Kuwait BBKM001 First four characters are IFSC code +001 13 Bank of Baroda BARB001 First four characters are IFSC code +001 14 Bank Of Ceylon BCEY001 First four characters are IFSC code +001 15 Bank of India BKID001 First four characters are IFSC code +001 16 Bank Of Maharashtra MAHB001 First four characters are IFSC code +001 17 Bank Of Nova Scotia NOSC001 First four characters are IFSC code +001 18 Bank Of Tokyo-Mitsubishi Ufj Ltd BOTM001 First four characters are IFSC code +001 19 Bank Internasional Indonesia IBBK001 First four characters are IFSC code +001 20 Barclays Bank Plc BARC001 First four characters
    [Show full text]
  • S.No. Name of Bank E-Mail Id 1 State Bank of India Seoni Sbi.00478@Sbi
    S.No. Name of Bank E-mail Id 1 State Bank of India Seoni [email protected] 2 Bank of Maharashtra Seoni [email protected] 3 UCO Bank Seoni [email protected] 4 IDBI Bank Seoni [email protected] 5 Canara Bank Seoni [email protected] 6 State Bank of India Kachahari Chowk Seoni [email protected] 7 Bank of India Seoni [email protected] 8 Vijaya Bank Seoni [email protected] 9 Bank of Baroda Seoni [email protected] 10 Indian Overseas Bank Seoni [email protected] 11 United India Insurance Seoni [email protected] 12 Central Bank of India Lakhnadon [email protected] 13 Central Madhya Pradesh Gramin Bank Seoni [email protected] 14 Bank of Maharashtra Kurai [email protected] 15 Bank of Maharashtra Khawasa [email protected] 16 Bank of Maharashtra Dharna [email protected] 17 Bank of Maharashtra Khairranjhi [email protected] 18 Bank of Maharashtra Astaa [email protected] 19 Bank of Maharashtra Bhoma [email protected] 20 Bank of Maharashtra Palari [email protected] 21 Bank of Maharashtra Ugli [email protected] 22 Central Bank of India Seoni [email protected] 23 State Bank of India Manglipeth [email protected] 24 State Bank of India Lakhnadon [email protected] 25 State Bank of India Ghansore [email protected] 26 State Bank of India Chhapara [email protected] 27 Union Bank of India Seoni [email protected] 28 Union Bank of India Dhooma [email protected] 29 Union Bank of India Kahani [email protected]
    [Show full text]
  • List of Scsbs Displayed on SEBI Website
    List of Self Certified Syndicate Banks under the ASBA process 1. As on date, there are 57 banks registered with SEBI as Bankers to an Issue under the SEBI (Bankers to an Issue) Regulations, 1994. In terms of the SEBI Circular no. SEBI/CFD/DIL/DIP/31/2008/30/7 dated July 30, 2008 on Applications Supported by Blocked Amount (ASBA), all these banks are eligible to act as Self Certified Syndicate Bank for the purpose of ASBA subject to their submitting a self certification to SEBI ,inter-alia certifying that they have undertaken the mock trial run of their systems with the Stock Exchange(s) and Registrar(s) and have satisfied themselves that they have adequate systems/ infrastructure in place at their Controlling Branch/ Designated Branches to fulfill their responsibilities/ obligations as envisaged in the ASBA process within the timelines specified therein. 2. Once the banks submit this self certification, their names shall be included in SEBI’s list of Self Certified Syndicate Banks (SCSBs) whereafter these SCSBs shall be eligible to accept ASBAs. 3. Investors desirous of appling through ASBA process may submit their ASBAs to the SCSBs mentioned herein below. List of SCSBs is as under: Sl. Name of the Date of Eligible to Details of designated No. bank receipt of act as SCSB branches and self w.e.f. Controlling branch certification available at 1. Corporation August 21, September 1, Details of branches of Bank 2008 2008 Corporation Bank 2. Union Bank August 25, September 1, Details of branches of of India 2008 2008 Union Bank of India 3.
    [Show full text]
  • I. State Bank of India
    COMPANY PROFILE I. STATE BANK OF INDIA OVERVIEW INTERNATIONAL PRESENCE HISTORY ASSOCIATE BANKS BRANCHES State Bank of India (SBI) (BSE: 500112, LSE: SBID) is the largest state- owned banking and financial services company in India, by almost every parameter - revenues, profits, assets, market capitalization, etc. The bank traces its ancestry to British India, through the Imperial Bank of India, to the founding in 1806 of the Bank of Calcutta, making it the oldest commercial bank in the Indian Subcontinent. Bank of Madras merged into the other two presidency banks, Bank of Calcutta and Bank of Bombay to form Imperial Bank of India, which in turn became State Bank of India. The Government of India nationalized the Imperial Bank of India in 1955, with the Reserve Bank of India taking a 60% stake, and renamed it the State Bank of India. In 2008, the Government took over the stake held by the Reserve Bank of India. SBI provides a range of banking products through its vast network of branches in India and overseas, including products aimed at NRIs. The State Bank Group, with over 16,000 branches, has the largest banking branch network in India. With an asset base of $352 billion and $285 billion in deposits, it is a regional banking behemoth. It has a market share among Indian commercial banks of about 20% in deposits and advances, and SBI accounts for almost one- fifth of the nation's loans. SBI has tried to reduce over-staffing by computerizing operations and "golden handshake" schemes that led to a flight of its best and brightest managers.
    [Show full text]
  • Citizens' Charter of State Bank of India
    CITIZENS’ CHARTER OF INDIAN BANK PREFACE 1. Indian Bank strongly believes that a satisfied customer is the most important factor for growth of its business. 2. In February 2006, Reserve Bank of India set up the Banking Codes and Standards Board of India (BCSBI) as an independent autonomous watchdog to ensure that customers get fair treatment in their dealings with Banks. The BCSBI has published the “Code of Banks’ Commitments to Customers- January 2014” and “Code of Commitment to Micro and Small Enterprises – August 2015” which set out minimum standards of banking practice and benchmarks in customer service for banks to follow. Indian Bank is a member of the BCSBI and has therefore voluntarily adopted the above Codes as its Fair Practice Code in dealings with its customers. The complete copy of the Code is available at http://www.indianbank.in/ 3. This document called the “Citizens’ Charter of Indian Bank” provides key information on various facilities/services provided to customers in the branches of Indian Bank. The Code together with the Citizens’ Charter will thus ensure high standards of accountability, responsibility and transparency in the Bank’s dealings with customers. The Charter also provides comprehensive information on Bank’s Grievance redressal mechanism. It also specifies the obligations on the part of the customers for healthy banker-customer relationship. <Please click here for Policy on ‘Customers Grievance Redressal & Compensation for deficiency in services’> 4. This is not a legal document creating rights and liabilities. Loans and advances may also have specific terms and conditions not mentioned in the Charter. However, all terms and conditions will comply with the principles and commitments undertaken by the Bank in the Code.
    [Show full text]
  • 9Irifaiit~
    ~ lie ~o ~e-33004f99 REGD. NO.D. [.-33004<99 9IRifaiIT~I [:he <5a~ette of $fndia . ~ EJC11lAORDINARY 'llT't1l-lJ'O"I"J.-'3'Cr-1J"l1¥(i) PARTU-5eclion 3-Sub-section (i) 1lTflJq;rr 1\ "'""'"' PUBUSHED BV AtrrnORITV .••. 4061 'If~,~. ~ 20, 2D"/~ 29, 19•• No. 4061 NEW DELHI, WEDNF.SDAV, JULY 10, 101l/ASADHA 19, 1933 ~ ~ fuffi, 20 ~, 2011 m.w.f.t 556(3f).- ~ mltiTl, ~ ~~, 1857 (1857 i5l 10) llft !lR1 22 z6i!lt••qlaa >iRift>l~ tralol~~, 2010 (2010 i5l31) llft= 34llft31lflRi (2) = g;:m.1llliml i5l ~ ...m ~ 3fu ~ _ r.-. 3fu lR'll '-'Rin1ltl~ 3fu '-'Rinit ~ "t, IlmI z6~ 3fu ~ 1ltl«<tiz6llml.f it, ~ r.-. ~~, 3terlq:- 3ll!ll1>{ I 3l1tlWl5 1. ~""",:m:J;nis{- (1)~~""~OI1>l>iRift>l~tralol~r.-., 2011 ~I (2) <hacnfuo <5lllWliit.il~>iRift>l ~tralol~~, 2010 (2010"" of 31)lIWI~1 J- 2. qft~-(l)~~<ilO!'l<rn;f15<iGalit3l«l<l1~mOlo),- ("') "31~"it>iRift>l~tralol~~, 2010 (2010",,31)3!lml,,~; (GI) "~"it~i5l~~~; (OI) "'-'Rin3ili5llllftl<ti~"it=25<il~'-'Rin3ili5llllftl<ti~~~; ('I) "<nfllll;~"iterm26<il~fuUi~~; (!l')"="it~<6l=~"t1 (2) 3OI.lO:13fu .m'z6 oil ~ llW"~ 3fu qft>l1flffl'Itl't ~ ~ <ilqft~~, llt\ 3I,j;ITi\oil31~<il'tr ' 2723GI/l1-1A (I) lHE GAZETffi OF INDIA: EXTRAORDINARY [pAIl, 11-5Ec. l(QJ 3. ~ ~ llftum,tTZl- (I) lIRift>lap _ ~ lll13I0llCt1lRllmlll1l16 3l'RlI\llor~et~afR~ •• ~o18!i1lUlTtl"lla()~~,~. ~.lI1llr.;;o. \lIftl. !limf8~ _16 c),( 81i1ml~ afR~ullil tll (2) _(~ afRlRm) 1I'l1_(~) 1IRlI~Ii;~a!lnI16'l<1>lll1~ afR_ (.a-t afR.lRm) 301~ 018~ UlTtl"lIa()..r.rouafRlRm Ii;cbi o1llltToiiltil afR ~ ullil tlllflt _ (~) 3iltll!lllllml018 ~ ornl"llon~ afRlI1llr.;;oIi;c),( 01 19Toi_3flz~«1li\tll (4) 1lR161i;3lPialli;31aful~I\!~~~~~mlll\i'llfuil8tliil G'I-lI!l~li;ll;m;!l1_ll'llIlll~_.
    [Show full text]