Scope for two IFSCs in India, says Arundhati Bhattacharya
Formally launches international banking unit at IFSC
Decision sparked by mounting NPAs; mid-corporate bad loans account for 41% of total NPAs worth Rs 1.02 lakh crore
SBI has 17,000 branches and together with its subsidiaries, the tally will come to nearly 23,000 after merger
There are about 23,000 branches of SBI and its associate banks
5.5% coupon rate to set benchmark for others
Fitch Ratings said a successful cross-border AT1 issue by SBI would be a positive development for India's banking system
It said the SBI's issue price would also provide Indian banks with an alternative funding option
Indicative coupon is 5.5%
The latest norms regarding lending to large corporates make corporate lending more costly, said Arundhati Bhattacharya
He said SBT had played a pioneering role in the state's development in every sphere of productive activity
Its value and margins are higher than Street estimates; this could push up the bank's valuations
Shares of SBI were trading 0.08 per cent higher at Rs 254.80 per scrip on the BSE
Fund houses have lapped nearly 60 million shares
She was speaking in response on whether banks are heading towards a possible bubble in consumer financing segment
The mergers will dwarf ICICI Bank assets to just one-fourth of SBI; catapult the bank into top 50 banks globally
Analysts expect return ratios consolidated entity to improve by 300-400 basis points
The only exception could be State Bank of Mysore as its stock could see some correction given the swap ratio for its shareholders
Entities are State Bank of Bikaner and Jaipur, State Bank of Mysore, State Bank of Travancore and Bharatiya Mahila Bank.
Monsoon to fuel rural lending, industrial borrowing may get a leg-up