SBI hit market capitalization of Rs 5 trillion: State Bank of India, SBI, market capitalization of India’s largest state lender, surpassed $5 trillion for the first time after its shares reached a new high of Rs. 564.85 in intraday trade on the Bombay Stock Exchange (BSE). According to data from Bombay Stock Exchange (BSE), State Bank of India (SBI) is ranked seventh overall among corporations as of Wednesday, 10:30 am, with a market valuation of 5.03 trillion.
State Bank of India (SBI) hit market capitalization of Rs 5 trillion: Key Points
- State Bank of India, SBI surpasses the market cap of Rs. 5 trillion, making it the third lender in the nation to do so.
- HDFC Bank, the biggest private lender in India, tops this list with a market cap of Rs 8.38 trillion, followed by ICICI Bank with a market cap of Rs 6.33 trillion.
State Bank of India (SBI) Growth So Far:
- State Bank of IndiaSBI is one of the best-positioned participants in the sector, with increasing indicators of momentum continuing in corporate demand and a potential upturn in capital expenditures in FY24.
- State Bank of India outpaced the market over the last three months, rising 26% compared to the S&P BSE Sensex’s 13.9% increase.
- In the same time frame, HDFC Bank increased by 15% and ICICI Bank rose by 32%.
- SBI has demonstrated excellent operational performance and boosted profitability. The percentage of slippages has dramatically decreased, going from 2.47 percent in June 2021 to 0.99 percent in March 2022.
Important Takeaways for All Competitive Exams:
- SBI Chairman: Dinesh Kumar Khara
- HDFC Bank Chairman: Deepak Parekh
- ICICI Bank Chairman: Girish Chandra Chaturvedi
- HDFC Bank CEO: Sashidhar Jagdishan
- ICICI Bank CEO: Sandeep Bakhshi