State Bank of India

State Bank of India expects to recruit around 11,000–12,000 staff this financial year across clerical and officer cadres, with the final figure to vary by retirements and needs. SBI hired 25,633 people in 2025–26, driven by 1,500 specialist IT officers, a level not expected this year. The bank plans to grow its branch network by about 200–250 net locations while also reviewing some branch rationalisation. SBI and SBI Capital Markets intend to dilute up to 1% of their combined stake in the National Stock Exchange via a proposed ₹300bn IPO, with SBI selling 0.65% and SBI Capital Markets 0.35%. » More on finance.yahoo.com

SBI Funds allotted anchor investors shares worth 26.63 billion rupiah (278.5 million USD) at 574 rupiah per share, the top of the price range. Buyers include sovereign wealth funds from Singapore and Abu Dhabi, the Abu Dhabi Investment Authority, Norges, BlackRock, LIC and Capital Group. As part of the IPO, which will see SBI and Amundi sell a total of 203.7 million shares, SBI Funds is targeting a valuation of up to 1.17 trillion rupiah. The public subscription runs from 14 to 16 July at a range of 545–574 rupiah per share. » More on de.investing.com

State Bank of India has increased rates on three- to five-year foreign deposits by up to 300 basis points after the Reserve Bank of India agreed to cover the full hedging costs for such deposits. For deposits up to $1 million the bank now offers 5.25–5.75% and for deposits over $1 million 5.5–6% for the stated tenors. The move is aimed at encouraging capital inflows and supporting the battered rupee after it has lost significant value this year. » More on de.investing.com

State Bank of India reported a record net profit of 80,032 crore INR for fiscal 2026 (+12.88% yoy) and an operating profit growth of 11.25%. Asset quality improved with gross NPAs at 1.49% and net NPAs at 0.39%; the domestic net interest margin is above 3% and ROA exceeds 1%. The fourth quarter was weighed down by treasury losses of 4,520 crore, but annual performance remained strong, supported by loan and deposit growth and the digital platform YONO with over 10 crore users. The bank continues to pursue digital transformation and sees growth opportunities in areas such as renewable energy and data centers. » More on de.investing.com

The State Bank of India said that the nationwide banking strike announced for 12 February 2026 is expected to affect business operations only to a limited extent. The bank did not give specific details on services affected or on recommended precautions for customers. The notice comes ahead of potential disruptions in the Indian banking sector on the day of the strike. » More on de.investing.com