State Bank of India's central board approved raising up to Rs 60,000 crore this fiscal via rupee and dollar bonds to bolster capital and support business growth. Funds will be raised through various debt instruments from Indian and overseas investors.
State Bank of India reported a 6% rise in Q4 FY26 net profit to Rs 19,684 crore, driven by improved asset quality and lower bad loans. Despite this, total income saw a slight decline, and net interest margins compressed, leading to a drop in operating profit and a subsequent fall in SBI's stock price.
State Bank of India has promoted eight Chief General Managers to Deputy Managing Director positions in its annual cycle. The new DMDs are being assigned departments as existing officials retire, with some retirements scheduled from June through September. Currently there are 18 DMDs at India's largest bank. Debasish Mishra will take over from Nand Kishore at SBI Mutual Fund, while Dipak Kumar De will lead digital banking. The GM to CGM promotion process will be completed by mid-May.
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