Page 31 - Sbi

State Bank of India concludes placement of $250 million green bond

This is part of SBI's $10 billion medium-term note program and was raised through private placement facilitated by the lender's London branch

SBI likely to issue perpetual bonds to wrap up FY borrowing: Report

Merchant bankers said the lender may have to pay a higher coupon as they are looking to raise a larger quantum this time

SBI garners $1 bn from overseas to cater domestic ESG financing market

State Bank of India (SBI) on Wednesday said it has raised USD 1 billion or (about Rs 8,300 crore) to cater to the domestic ESG financing market. The bank has concluded the issuance of USD 1 billion (USD 750 million and green shoe of USD 250 million) through Syndicated Social Loan, SBI said in a regulatory filing. The loan book was closed on January 2, 2024, it said. Last year too, the country's largest lender had raised USD 1 billion syndicated social loan. The fund raised would would cater to domestic ESG (Environmental, Social and Governance) financing market. The funds were raised through two tenures: a three-year and a five-year loan. These funds were raised at 80 basis points and 100 basis points over the secured overnight financing rate (SOFR), respectively. SOFR is a benchmark rate for dollar-denominated derivatives and loans, which replaced the London Interbank Offered Rate or Libor. During the second quarter ended September 30, 2023, the bank reported an 8 per cent incr

Attractive spreads drive arbitrage funds to better returns in 2023

Staged strong comeback last year, stole march over debt funds to post best performance in 8 years

SJVN secures Rs 10,000 cr construction finance facility from banks

State-owned SJVN Ltd has secured Rs 10,000 crore construction finance facility to fund its upcoming renewable energy projects from a group of leading domestic and international lenders. The construction finance facility is a unique and first-of-its-kind transaction undertaken by a PSU entity and Public Sector Banks, a company statement said on Friday. According to the statement, SJVN has secured Rs 10,000 crore (USD 1.2 billion) construction finance facility to fund its upcoming renewable power projects from a group of leading domestic and international lenders. SJVN Green Energy Limited (SGEL), a wholly-owned subsidiary of SJVN Ltd, undertook this initiative in association with SBI Capital Markets Ltd (SBI CAPS). SBI CAPS acted as the sole advisor and arranger for the transaction on behalf of SGEL. Construction finance attracted a tremendous response from lenders and was over-subscribed. After detailed discussions and deliberations, proposals from five banks -- Deutsche Bank, Sta

SBI, HDFC Bank will need to maintain higher capital from FY25, says RBI

The additional Common Equity Tier 1 (CET1) requirement will be in addition to the capital conservation buffer

State Bank of India hikes retail, bulk deposit rates up to 50 bps

The term deposits upto Rs two crore are categorised as retail deposits and those above it are considered as bulk deposits

SBI buys Rs 200 cr worth non-convertible debentures of Muthoot Fincorp

State Bank of India has purchased non convertible debentures (NCDs) worth Rs 200 crore issued by Muthoot Fincorp. The flagship company of 136-year-old Muthoot Pappachan Group on Tuesday said the debt issue has a five-year maturity with half-yearly being the frequency of the interest payment. However it didn't reveal the pricing of the issue. Shaji Varghese, CEO of the company said the proceeds from the NCD issue will be utilised for onward lending, business operations and further expansion and growth plan. Muthoot Fincorp has over 3,600 branches across the country and offers gold loans, small business loans, auto loans, home loans and loans against property, among others.

Bank frauds increase, private sector lenders make more write-offs

Private banks in FY23 accounted for 74% of amounts written off due to fraud

SBI to sign $165 million LoC with World Bank for rooftop solar projects

In September, SBI said that it plans to make home loans with rooftop solar installations mandatory for residential projects funded from the bank's long-term climate action funds

SBI to sign 200 mn euro LoC with EIB to support climate action projects

State Bank of India (SBI) on Thursday said it will sign a 200 million euro (about Rs 1,800 crore) Line of Credit (LoC) with the European Investment Bank (EIB) for supporting climate action projects in the country. The agreement will be signed on December 21 at the bank's IFSC Gift City Branch in Ahmedabad, SBI said in a regulatory filing. The loan document will become operational, subject to necessary approvals, it said. Earlier this month, SBI signed a 70 million euro (about Rs 630 crore) LoC with German Development Bank KfW for promoting solar projects in the country. The LoC is aimed at supporting Solar Photovoltaics (PV) projects in India.

SBI m-cap nears Rs 6 trillion as stock hits new peak; surges 17% in 1 month

MOFSL estimates PSBs to sustain ongoing earnings traction, aided by improved loan growth, margin stability, and controlled credit costs

Hoping for reduction of rates from middle of FY25: SBI Chairman Khara

Khara also says, in an interview with Manojit Saha, the bank has a plan to plough back a significant part of its profit this financial year, and that would increase capital adequacy ratio by 140 bps

SBI slows down unsecured retail loans, to focus on healthy growth

Chairman Khara says corporate loan sanction pipeline is at Rs 4.7 trn

Ladli behna scheme lifts women's spending by Rs 9,302 each: SBI report

According to the research, which looked at the data of at least 4 million of the LBS beneficiaries, around 94 per cent women covered are in the age group of above 25 years

56% to shut bank lockers due to rising rentals, KYC requirement: Survey

Under the RBI guidelines for banks, revised locker agreements, defining responsibilities and liabilities, must be signed and submitted to the bank branch by account holders before December 31, 2023.

SBI hits new high after a gap of 1 year; stock surges 5% in 3 days

State Bank of India, on Wednesday, said it will be signing EURO 70 million Line of Credit with KfW (German Development Bank) for supporting Solar PV projects in India

Stocks to Watch: PVR Inox, Hero Moto, Jupiter Wagon, Texrail, eYantra, Ami

Stocks to Watch on December 15, 2023: eYantra has received a staffing service order worth $900,000 from Nvidia; Plenty Pvt Group & Multiples Pvt Group may sell 2.3% stake in PVR Inox

Stocks to Watch: IRCTC, Fusion, Ultratech, Uno Minda, NBCC, SBI, RBL Bank

Stocks to Watch on December 14, 2023: IRCTC is eyeing a major expansion in the non-railway catering business

SBI to sign Rs 630 crore LoC with Germany's KfW for solar projects

State Bank of India (SBI) on Wednesday said it will sign 70 million euro (about Rs 630 crore) Line of Credit (LoC) with German Development Bank KfW for promoting solar project in the country. The agreement will be signed on December 14 at the bank's IFSC Gift City Branch in Ahmedabad, SBI said in a regulatory filing. The LoC is aimed at supporting Solar Photovoltaics (PV) projects in India, it said. The country's largest lender SBI reported a 9.13 per cent growth in consolidated net profit for the September quarter to Rs 16,099.58 crore as against Rs 14,752 crore in the year-ago period. On a standalone basis, it posted a net profit of Rs 14,330.02 crore as against Rs 13,264.52 crore in the year-ago period. The bank reported a total income of over Rs 1.12 lakh crore for the quarter under review, up from Rs 88,733 crore in the year-ago period.