The PSU lender said it has raised Rs 6,000 crore by issuing Basel III compliant bonds.
State Bank of India (SBI) has allotted 6,000 Basel lll compliant non-convertible, taxable, perpetual, subordinated, unsecured, fully paid-up debt instruments in the nature of debentures qualifying as AT 1 capital of the bank of face value of Rs 1 crore each, at par, bearing a coupon of 7.72% p.a. payable annually, aggregating to Rs 6,000 crore to bond subscribers on 18 October 2021.In June, the bank had received approval from its central board for raising fresh AT 1 capital of up to Rs 14,000 crore.
Meanwhile, the Reserve Bank of India (RBI) on Monday imposed a monetary penalty of Rs 1 crore on SBI for non-compliance with the directions contained in 'Reserve Bank of India (Frauds classification and reporting by commercial banks and select FIs) directions 2016'.
SBI's standalone net profit rose by 55.3% to Rs 6,504 crore in Q1 FY22 from Rs 4,189.34 crore in Q1 FY21. Total income during the quarter rose by 3.9% YoY to Rs 77,367.17 crore.
SBI is an Indian multinational, public sector banking and financial services statutory body. As of 30 June 2021, the Government of India held 57.62% stake in the bank.
Shares of SBI were down 1.41% to Rs 490.85. The stock hit a record high of Rs 504.10 in morning trade today.
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