Thursday , October 28 2021

State Bank Of India inches up as its arm ties up with IOB for bancassurance partnership

State Bank Of India is currently trading at Rs. 396.90, up by 1.90 points or 0.48% from its previous closing of Rs. 390.20 on the BSE.

The scrip opened at Rs. 395.80 and has touched a high and low of Rs. 399.00 and Rs. 395.10 respectively. So far 2734816 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 426.45 on 18-Feb-2021 and a 52 week low of Rs. 149.55 on 22-May-2020.

Last one week high and low of the scrip stood at Rs. 415.00 and Rs. 387.00 respectively. The current market cap of the company is Rs. 352522.16 crore.

The promoters holding in the company stood at 57.64%, while Institutions and Non-Institutions held 34.70% and 7.46% respectively.

State Bank of India’s (SBI) subsidiary company — SBI General Insurance has tied-up with Indian Overseas Bank (IOB) for a bancassurance partnership for selling its non-life products. Through the alliance, SBI General will offer a range of general insurance solutions and innovative products to IOB customers. The partnership will improve penetration in urban, tier II, and tier III markets and will also help create awareness about personal lines of insurance.

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.

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