IGI Logo

The state-run lender on Friday (23 September 2022) announced the allotment of non-convertible, unsecured Basel III compliant Tier 2 bonds Series I of Rs 4,000 crore on private placement basis. In an exchange filing, the bank said that it has raised Rs 4,000 crore by issuing Basel III compliant unsecured, non-convertible Tier 2 bonds at a coupon rate of 7.57%. State Bank of India (SBI) is an Indian multinational, public sector banking and financial services statutory body.

As of 30 June 2022, the Government of India held 57.57% stake in the bank. The bank's standalone net profit declined 6.7% to Rs 6,068 crore on a 3% fall in total income to Rs 74,988.57 crore in Q1 FY23 over Q1 FY22. Shares of State Bank of India slipped 2.99% to settle at Rs 550.45 on Friday, 23 September 2022.