44 million transactions a day

Discussion in 'Economics' started by morganist, May 23, 2011.

  1. Bearice asked me to post this in economics for him as he has been banned. I thought it was reasonable so have done so.


    Largest lender State Bank of India (SBI) has 44 million transactions everyday. I heard a SBI manager or somebody from SBI saying this, sometime 6 months back on Discovery Channel.

    I am saying that, if SBI earns 1 Ruppee profit from each transactions, then SBI earns Rs 4.5 crores profit everyday which comes to estimated Rs 1,125 crores profit every year for SBI.

    Understandably, SBI must be earning more than Rs 4.5 crores profit everyday. But SBI has displayed Rs 21 crores profit only for the fourth quarter ended March 2011 as against Rs 1,866.60 crore in the same quarter in the previous fiscal.

    SBI is dealing with some bad loans, operating expenses including employee cost, Tax of over Rs 900 crore and transfer to some pension fund.

    Despite dismal performance, the bank maintained dividend at 300 per cent for 2010-11. SBI will pay dividend of Rs 30 per share on face value of Rs 10 after shareholders approval. Please confirm the above statements.

    What is this?
  2. Lucrum


    Translation : morganist knows better than the administrator that banned Bearice.
  3. Bearice dug his own grave, let's just let him lie in it :)
  4. Occam


    I'm mildly surprised -- I thought he might be an ET mod's alias attempting to generate discussion.
  5. Bearice was banned for inappropriate comments. Not economic posts. I have decided that the post is relevant and as he requested I post it and it does not fall under the reasoning for his banning I would post it.

    He had the followup post.

    If I am correct, some analysts were expecting 10,000 crores profit from SBI for that quarter. Please confirm this.

    I think Bank crisis similar to USA bank crisis is heading for India.

    How can profits fall 99% for the biggest bank in India?
  6. You thought he was me?
  7. So.. what exactly is this thread about?
  8. Occam


    Not necessarily you. I know it was a wild an unlikely supposition, but I'll venture that bearice's posts/threads generated substantial page views (and hence ad dollars) for the site.

    I read his treatise on Man vs. Wild with great relish.
  9. bronks


    I thought that dumbass was referring to himself in the third person again, until I looked to the left.
  10. He's basically saying that India is heading for a credit crisis. I think?
    #10     May 24, 2011