Business Standard

SBI board OKs to raise upto $3bn


State Bank of India (SBI) announced that the executive committee of its board has approved raising funds up to $3 billion through issuance of senior, unsecured notes via public offer and private placement methods.
Earlier on 4 June 2024, the bank said that it will examine the status and decide on long term fund raising in single and multiple tranches of up to $3 billion through a public offer and private placement of senior unsecured notes in US Dollar or any other major foreign currency during FY 2024-25.
State Bank of India (SBI) is an Indian multinational, public sector banking and financial services statutory body. As of 31 March 2024, the Government of India held 57.49% stake in the bank.
The largest PSU banks standalone net profit grew 23.98% to Rs 20,698.35 crore on 20.11% rise in total income to Rs 1,28,411.88 in Q4 FY24 over Q4 FY23.
The scrip added 0.49% to trade at Rs 836.20 on the BSE
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First Published: Jun 11 2024 | 3:08 PM IST

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