SBI raises Rs 4,000 cr via tier 2 bonds
The state-run lender on Friday (23 September 2022) announced the allotment of non-convertible, unsecured Basel III compliant Tier 2 bonds Series I of Rs 4,000 crore on private placement basis.
In an exchange filing, the bank said that it has raised Rs 4,000 crore by issuing Basel III compliant unsecured, non-convertible Tier 2 bonds at a coupon rate of 7.57%.
State Bank of India (SBI) is an Indian multinational, public sector banking and financial services statutory body. As of 30 June 2022, the Government of India held 57.57% stake in the bank.
The bank's standalone net profit declined 6.7% to Rs 6,068 crore on a 3% fall in total income to Rs 74,988.57 crore in Q1 FY23 over Q1 FY22.
Shares of State Bank of India slipped 2.99% to settle at Rs 550.45 on Friday, 23 September 2022.
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First Published: Sep 24 2022 | 12:45 PM IST