State Bank of India (SBI), the largest lender to Kingfisher's said that a loan recall notice is likely to be issued to Kingfisher Airlines in a month.
State Bank of India ( SBI ), the largest lender to Kingfisher 's said that a loan recall notice is likely to be issued to Kingfisher Airlines in a month time. SBI, the country's largest bank, has so far extended credit to the tune of Rs 1,700 crore to the ailing airlines.
Speaking on the sideline, Krishna Kumar, MD, SBI said to CNBC-TV18, exclusively that lenders to Kingfisher have formed a sub-committee and are seeking legal opinion over recalling loans. Once recall notices are sent action will be taken on assets pledged.
SBI stock price
On September 16, 2014, State Bank of India closed at Rs 2563.70, down Rs 60.6, or 2.31 percent. The 52-week high of the share was Rs 2833.85 and the 52-week low was Rs 1455.95.
The company's trailing 12-month (TTM) EPS was at Rs 147.33 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 17.4. The latest book value of the company is Rs 1584.34 per share. At current value, the price-to-book value of the company is 1.62.
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