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Rs 15,000 crore raised via QIP will support growth for two years: SBI chief

SBI sold 522 million shares at a price of Rs 287, largest share sale in secondary market by a bank

Arundhati Bhattacharya

Abhijit Lele  |  Mumbai 

The State Bank of India (SBI) on Friday said the Rs 15,000 crore equity capital raised through qualified institutional placement (QIP) would support growth and capital requirements till March 2019. SBI chairman Arundhati Bhattacharya said the capital base would help to support credit expansion.

The bank’s loan growth is estimated at 10-12 per cent in 2017-18 and 14 per cent in 2018-19. The SBI’s advances rose by 7.8 per cent to Rs 16,27,273 crore in 2016-17. Taking into account loans of associate banks, the SBI’s loan book expanded to Rs 18,96,887 crore in ...

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First Published: Sat, June 10 2017. 01:06 IST