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Hot Pursuit
11-Jun-24
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SBI board OKs to raise upto $3bn
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State Bank of India (SBI) announced that the executive committee of its board has approved to raise funds through issuance of senior, unsecured notes via public offer and private placement methods.
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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 bank’s 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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