SBI receives board's approval to raise up to Rs 11,000 crore

State Bank of India (SBI) on Wednesday received the board's approval to raise up to Rs 11,000 crore through issuance of bonds.

SBI
SBI
Press Trust of India New Delhi
1 min read Last Updated : Jul 20 2022 | 9:00 PM IST

State Bank of India (SBI) on Wednesday received the board's approval to raise up to Rs 11,000 crore through issuance of bonds.

The bank's central board, at its meeting held on Wednesday, approved raising capital by way of issuance of Basel lll compliant debt instrument in USD/INR and/or any other convertible currency, in FY23, according to a regulatory filing.

The country's largest lender in terms of asset size and customer base plans to raise fresh Additional Tier 1 (AT1) capital up to Rs 7,000 crore, subject to the government's concurrence.

Also, it plans to raise fresh Tier 2 capital of up to Rs 4,000 crore.

Shares of SBI gained 2.13 per cent to close at Rs 508.60 apiece on BSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :sbiSBI bondsIndian state banks

First Published: Jul 20 2022 | 9:00 PM IST

Next Story