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SBI board to seek nod today to raise Rs 10,000 crore via infra bonds

The bank's Executive Committee of the Central Board will meet on November 29 to consider raising funds through infrastructure bonds

November 29, 2022 / 08:19 AM IST
State Bank of India (SBI)

State Bank of India (SBI)

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State Bank of India (SBI) board will meet on November 29 to consider raising funds through the issuance of infrastructure bonds worth up to Rs 10,000 crore during FY23.

The total issuance includes Rs 5,000 crore greenshoe, and the bonds will be issued through public issue or private placement, SBI informed indices on November 24.

SBI's Chairman Dinesh Kumar Khara yesterday said that the lender is expected to maintain its asset quality even though loan growth is higher.

In the July-September quarter, SBI's gross non-performing assets (NPA) eased to 3.52 percent from 3.91 percent in Q1FY23 and 4.9 percent in Q2FY22. Similarly, net NPAs dropped to 0.8 percent in September 2022 quarter from 1 percent in June 2022 quarter and 1.52 percent in September 2021 quarter.

The bank also recorded credit growth at 19.93 percent year-on-year in July-September.
Moneycontrol News
first published: Nov 24, 2022 09:00 pm