SBI board approves Rs 11,000 cr capital raise via AT1, tier-II bonds

Money to be raised in rupees, dollars or other convertible currency; lender's CAR at 13.83%, with tier-I of 11.42% and Tier-II of 2.41%, March-end

The country’s largest lender, State Bank of India, plans to raise up to Rs 11,000 crore via additional tier-I and tier II bonds to meet regulatory requirements and support business growth.

SBI's board of directors approved the plan to raise capital by ways of issuance of Basel III company debt instruments in rupees, dollars or any other convertible currency, the bank informed BSE.

The board nod is for raising fresh AT1 capital of up to Rs 7,000 crore, subject to concurrence from the government of India, and fresh tier-II capital of up to Rs 4,000 crore, the lender said.