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State Bank of India

MUMBAI: Japanese lender Sumitomo Mitsui Banking Corporation 8316.Thas no immediate plans to raise its stake in India’s Yes Bank beyond 24.99%, a senior executive at the bank told Reuters on Friday. Its initial purchase, announced in May, marked the latest major overseas investment by a Japanese financial institution as they look to secure new sources of growth after years of rock bottom interest rates at home. SMBC is, however, moving cautiously with its biggest investment in India, in contrast with analysts’ expectations that it would quickly move to seek approval for a further increase in its stake and launch an open offer. In his first interview since the deal concluded in September, Rajeev Kannan, group executive officer and head of SMBC Group’s India division, said the bank is focused on contributing to Yes Bank’s growth as its largest shareholder and board member, and does not intend to take on an executive role in the lender. “We are not actively looking at increasing our stake in Yes Bank beyond the regulatory permissible limit of 24.99%,” Kannan said. “There are many areas which Yes Bank still needs to work on, and we need to ensure that those areas, which they have a plan to address, are being executed.” Kannan said that Yes Bank needs to improve on its cost of funds, return on assets and return on equities as compared to its peers.

State Bank of India is poised to raise ₹7,500 crore through the sale of 10-year Tier II bonds, with pricing expected above a 7% coupon. This marks the first such bond issuance by India's largest bank, featuring a base size of ₹5,000 crore and a potential ₹2,500 crore green shoe option.

Jhansi: An man employed by a cash handling company, hired by the State Bank of India (SBI), to transport cash from the Jhansi railway booking office, .

The brokerage has identified SBI and ITC as ‘safe picks’ while flagging HAL and Max Healthcare as ‘high beta’ picks.

According to officials, the accused registered about 2.09 acres of land in the name of GS Oil Mills and mortgaged it with the State Bank of India in 2023, alleg