Cryptocurrency Prices by Coinlib

SBI plans to issue bonds worth up to $2 billion, In FY23

SBI's board of directors approved raising up to $2 billion through bonds for the current fiscal year on Tuesday.

SBI's executive committee authorised a proposal to evaluate and decide on a long-term fund raising in single or multiple tranches "under Reg-S/144A, through a public offer and/or private placement of senior unsecured notes in US dollar or any other convertible currency during FY23."

On April 18, India's largest bank announced that it has raised $500 million in three-year funding through a syndicated credit facility at "extremely attractive pricing" through its IFSC Gift City branch. The offering's joint lenders were MUFG, Bank of America, and JP Morgan, with Fist Abu Dhabi Bank acting as the facility agent.

SBI's capital adequacy ratio under Basel III requirements was 13.23 percent on December 31, down 127 basis points year on year. If the profits from the first nine months of current fiscal year are included, the ratio will rise by 94 basis points, the bank indicated in February while releasing financial results.

In February, the bank predicted that its loan book will expand by 9% in FY22. In Q3, SBI had a 6.47 percent year-on-year (y-o-y) increase in domestic loans and an 8.58 percent increase in deposits. While total bank advances increased by 8.47 percent year over year, total deposits increased by 8.83 percent.

Also Read : Highest Paying Jobs in India in 2022

  • Share
logoSubscribe now