MoneyWorks4Me

SBI to divest non-core investments worth Rs 3,000 crore

29 Jun 2016 Evaluate

Banking major State Bank of India (SBI) is planning to divest non-core investments of around Rs 3,000 crore to shore up its capital. Despite the challenges that SBI faced last fiscal, the bank is well capitalized to absorb future shocks and maintain future growth trajectory.

SBI had reported over 66 percent fall in net profit for January-March quarter of FY2015-16 due to more than two-fold rise in provisioning for bad loans. The bank faced slippages of about Rs 30,000 crore in the quarter.

State Bank of India offers a wide range of services in the Personal Banking, Agriculture/Rural, NRI services, SME and Corporate Banking etc.

Peers
Company Name CMP
State Bank Of India 940.65
PNB 115.50
Bank Of Baroda 234.10
Canara Bank 117.20
Union Bank Of India 172.95
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