Page 2 - Sbi Yono

Yono app fetches Rs 100 crore in fee income every quarter: SBI Chairman

Yono, the mobile app of the State Bank of India, fetches Rs 100 crore in fee income every quarter by selling products from the parent's subsidiaries, and the digital loan book will be close to Rs 30,000 crore this fiscal, according to a top official. The nation's largest lender, which is into the 217th year of operations, launched the app in 2014. Since then, it has gone on to become such a runaway success that as much as 85 per cent of banking transactions are done through Yono, State Bank of India (SBI) Chairman Dinesh Kumar Khara said on Tuesday. He was speaking at a session at the fifth global fintech summit here. "I am happy to share that Yono gets us Rs 100 crore in fee income every quarter by selling the just commoditised products from our subsidiaries such as the life and general insurance arms, mutual fund and others," Khara said. According to him, when it comes to lending, especially pre-approved personal loans, during the past two fiscals, it has sold as much as Rs 21,0

SBI Card Q1FY24 results: PAT down 5.27% to 593 crore, revenue up 26%

The company's revenue from operations went up by 26.18 per cent year-on-year to reach Rs 3,911.88 crore for the quarter that ended on June 30, 2023

After KFW deal, SBI now in talks with EIB for Euro 200 mn green funding

Last week the lender tied up its second Euro 150 million funding with German govt-owned KFW as part of solar partnership with India

Amid rising credit demand, SBI  looks for a revamp to increase deposits

The State Bank of India is planning to revamp its current and savings accounts, salary accounts, and transaction banking businesses

Expecting to sustain loan growth of 15% in current fiscal: SBI chairman

The country's largest lender reported a 14.93 per cent rise in advances to Rs 29,00,636 crore in the first quarter ended June 30, 2022 as compared to Rs 25,23,793 cr during the same period a year ago

Solv raises $40 million in funding round led by Japan's SBI Holdings

Solv, a marketplace for small businesses, on Monday said it has raised USD 40 million (about Rs 310 crore) in funding led by Japan's SBI Holdings

Retired SBI senior executive Natarajan Sundar joins NARCL as MD CEO

Karnam Sekar, Malvika Sinha named independent directors; NARCL Board now has 5 nominees from shareholder banks, one more independent director likely to join soon

State Bank of India to raise $2 billion through overseas bonds in FY23

The executive committee of the Bank's central board will meet on May 10 to examine the status and decide on long term fund raising in single/multiple tranches, the bank informed BSE

GST on insurance premiums should be reduced to 5% or nil: SBI Research

Govt may look to reduce GST on insurance premiums and enrol the workers of MNREGA under the PMJJBY, PMSBY to increase insurance penetration

Why top lenders are laying the groundwork for digital-only banks

SBI is revamping its mobile application to turn to a complete digital bank, which will be named 'Only Yono'. HDFC Bank is working on a similar plan. What does this mean for future for banking?

SBI to revamp banking app YONO, position it as complete digital bank

YONO has three facets, namely DB for seamless and intuitive banking services

SBI YONO leads neobanking club with 54 million monthly active users

According to SBI's assessment, YONO is valued at around $40 billion but analysts say that it would have surpassed or hit $50 billion in 2021.

State Bank of India offers pre-approved 2-wheeler loan on mobile app

Already, the bank gives a 5 basis points discount on home loans if it is applied online/Yono

Morgan Stanley believes SBI is well-placed to capitalise cyclical lift

Morgan Stanley has raised its one-year target price to Rs 600 apiece. In their bull-case, the target price is pegged at Rs 830, implying a 100 per cent upside from Wednesday's close

YONO, earnings recovery key triggers for SBI: Goldman Sachs, Macquarie

State Bank of India stock was the top performing stock on the Nifty bank index today, and supported the index to claim a fresh record high of 32,683.5 on the NSE. The index is up 100% from March lows

Free-for-all apps: Avail bank facilities even if you are not a card holder

ICICI is not alone to bring this concept forward. State Bank of India, has also announced to make its app open for all in 30 days

ATM moment of banking services is here as lenders make apps open for all

What do banks gain by opening their apps for all? The answer - rival bank's customers under their fold.

SBI to boost retail loan book, sees earnings improving

SBI's bad loan ratio fell to 5.28 per cent at the end of September from 5.44 per cent three months earlier

Wherever we've seen unlocking, we've seen a revival in demand: SBI Chairman

Inflation rate in excess of 7% is essentially attributed to supply-side constraints, says chairman

SBI increases sops for home loans above Rs 75 lakh in festive push

Offers interest rates starting as low as 6.9 per cent for a home loan of up to Rs 30 lakh and 7 per cent for above Rs 30 lakh