WebSify
Follow us on
Mail
Print

SBI gains on hopes for improving asset quality

Source : REUTERS
Last Updated: Thu, May 09, 2013 09:57 hrs
SBI says not likely to raise funds from abroad now

Shares in State Bank of India (SBI) gain 2.3 percent after state-run rivals Punjab National Bank and Union Bank of India Ltd reported a sequential improvement in asset quality for the January-March quarter.

The results are raising expectations that SBI, India's biggest state-run bank, also saw flat or improving non-performing assets in the previous quarter.

Both Punjab National and Union Bank have a strong positive correlation with SBI's share prices.

PNB shares are up 4.5 percent, while Union Bank shares rise 1.6 percent.

blog comments powered by Disqus
most popular on facebook
talking point on sify finance