NEWS
SBI plans to raise Rs 11,000 cr in FY23
State Bank of India has received board approval to raise up to Rs 11,000 crore through issuance of bonds in FY23.
State Bank of India has received board approval to raise up to Rs 11,000 crore through issuance of bonds in FY23.
State Bank of India (SBI) has received board approval to raise up to Rs 11,000 crore through issuance of bonds in FY23.
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.
