On December 14, 2022, SBI announced an increase in fundraising after approving BOD up to Rs 10,000 crore through the issuance of a Basel III-compliant debt instrument.
- Alteria Capital Successfully Closes the Fund III Venture Debt Scheme at Rs 19.5 Crore
- Finance Ministry to Borrow Rs 7.5 lakh Crore in H1FY25, Plans to Raise Sovereign Green Bonds
- Reliance Power to Settle Debt Worth Rs 1,023 Crore With Authum Investment’s Arm
- BHEL Shares Rally 4% on Bagging Rs 4,000 Crore Order
- Gartner Survey Shows AI-Related Risks see Greatest Audit Coverage Increases in 2024
The bank’s central board has approved raising capital by issuing Basel III-compliant debt instruments in INR and/or any other convertible currency up to FY24. Additional Tier 1 (AT1) to raise a fund of Rs 10,000 crore subject to GOI (Government of India).
The bank has financial services statutory body. At the second quarter’s end, the stake held by GOI was 57.52% stake in the bank. On a consolidated basis, SBI’s net profit reported a 73.93% jump to Rs 13,264.52 crore on a 14.22% rise in total income to Rs 88,733.86 crore in the second quarter of FY23 over the second quarter of FY22.
On the Bombay Stock Exchange (BSE), SBI hit a high of 0.62 % to Rs 629.45.