November 04, 2024 23:46 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
US presidential election: Donald Trump ahead of Kamala Harris in swing states, poll survey predicts | 'I strongly condemn Hindu temple attack, intimidation of our diplomats': PM Modi amid Canada row | 'I strongly condemn Hindu temple attack, intimidation of our diplomats': PM Modi amid Canada row | PM Modi slams INDIA block for its silence over Sena UBT leader's sexist remark against Shaina NC | PDP member brings anti-Article 370 resolution in J&K assembly; BJP resists, CM Abdullah says only govt can do it
SBI to raise Rs 10,000 cr via AT1 bonds to support biz growth
SBI

SBI to raise Rs 10,000 cr via AT1 bonds to support biz growth

| @indiablooms | 15 Dec 2022, 02:43 am

Mumbai/IBNS: State Bank of India (SBI) is looking to raise Rs 10,000 crore via additional tier - 1 (AT1) bonds until March 2024, to fund business growth.

On Wednesday, SBI informed BSE that its board approved the fundraise in a  meeting via the BASEL III-compliant debt instrument in rupee or any other convertible currency till FY24.

This fundraising would be subject to the Government of India's concurrence, SBI said.

The bank wants to raise this capital before March and the issuance would be in tranches based on the appetite of the market, it said

In September 2022, SBI already raised over Rs 10,800 crore in debt capital via tier I bonds (Rs 6,872 crore) and tier II bonds (Rs 4,000 crore). It issued AT1 bonds at a cut-off of 7.75 percent.

At 13.51 percent, SBI’s capital adequacy ratio (CAR) in September 2022 was comfortably above regulatory requirements but it is still looking to develop a base to support growth in this and the subsequent financial year.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.