State Bank of India rose 1.73% to Rs 1,755.65 at 10:19 IST on BSE on report the bank has slashed processing fees on home loans by half.

Meanwhile, the BSE Sensex was up 62.09 points, or 0.38%, to 16,113.77.

On BSE, 1.28 lakh shares were traded in the counter compared with average volume of 5.06 lakh shares over the past two weeks.

The stock hit a high of Rs 1,767.80 and a low of Rs 1,719.85 so far during the day.

Report suggested that State Bank of India's (SBI) move to cut processing fees on home loans is aimed at garnering a larger pie in the home loan market and giving competition to private banks and housing finance companies.

According to report, State Bank of India has reduced processing fee on home loan above Rs 75 lakh to Rs 10,000 from Rs 20,000. For loans in the range of Rs 30 to Rs 75 lakh, the fees has been lowered to Rs 6,500 from Rs 10,000 earlier. The processing fee for loan below Rs 30 lakh continues to be 0.25% of the loan amount. The new charges are effective from Wednesday, 11 January 2012, report suggested.

On a consolidated basis, State Bank of India's (SBI) net profit rose 46.8% to Rs 3470.43 crore on 8.8% growth in total income to Rs 41249.08 crore in Q2 September 2011 over Q2 September 2010.

SBI is India's largest commercial bank with a network of over 13,000 branches and 5 associate banks. The bank offers a wide range of banking products and services to corporate and retail customers. The Government of India holds 59.4% stake in SBI.

distribué par

Ce noodl a été diffusé par SBI - State Bank of India.

Il a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-13 09:34:31 AM et restera accessible depuis ce lien permanent.

Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité.