In a stock exchange filing, India's largest public sector bank said: "...we submit that the Central Board in its meeting held today has, inter alia, approved raising long-term bonds up to an amount of Rs 20,000 crore. Has been approved." A public issue or private placement" during FY25.
SBI shares closed at Rs 854 on BSE with a gain of over 1 per cent.
The move comes as Indian banks including SBI are strengthening their capital reserves to meet rising loan demands. Several other public sector banks, including Canara Bank and Punjab National Bank, also plan to raise funds through the debt route during the current financial year.
Earlier this year, SBI had raised Rs 5,000 crore through perpetual bonds at 8.34 per cent coupon. In the January-March quarter of FY2024, SBI's net profit rose 24 per cent to Rs 20,698 crore, compared to Rs 16,695 crore in the same period last year. The country's largest bank declared a dividend of Rs 13.70 per share for FY24. SBI also recorded an improvement in its asset quality during the fourth quarter as gross non-performing assets (GNPA) declined to 2.24 per cent of total loans from 2.78 per cent last year.
SBI shares closed at Rs 854 on BSE with a gain of over 1 per cent.
The move comes as Indian banks including SBI are strengthening their capital reserves to meet rising loan demands. Several other public sector banks, including Canara Bank and Punjab National Bank, also plan to raise funds through the debt route during the current financial year.
Earlier this year, SBI had raised Rs 5,000 crore through perpetual bonds at 8.34 per cent coupon. In the January-March quarter of FY2024, SBI's net profit rose 24 per cent to Rs 20,698 crore, compared to Rs 16,695 crore in the same period last year. The country's largest bank declared a dividend of Rs 13.70 per share for FY24. SBI also recorded an improvement in its asset quality during the fourth quarter as gross non-performing assets (GNPA) declined to 2.24 per cent of total loans from 2.78 per cent last year.
