Banking Sector

SBI stated that the profits from the bonds will be used to increase long-term resources for funding infrastructure and affordable housing.

Bank of Baroda reported a 2.3% increase in net profit for the fourth quarter of FY24. The bank achieved a net profit of ₹4,886.5 Crore.

Retail loans surged by ₹18,600 Crore during the quarter, while commercial and rural banking loans jumped by ₹7,200 Crore.

Gross non-performing assets (GNPAs) were reported 1.47% in the fourth quarter, compared to 1.22% in the third quarter of FY24.

. This fundraising will take place in one or more tranches, and it will account for up to 15% of the bank's post-issue paid-up equity share capital.

FIH has a 49.72% share in the bank as of March 31, 2024, which will be reduced to almost 40% following the stake sale.

The bank plans to include a special resolution for this potential fundraising in its upcoming Annual General Meeting (AGM) notice.

At the end of the March quarter, Asia Asia Opportunities V held a 9.88% stake in the company, while General Atlantic Singapore Fund held 9.22%.

According to a filing on the exchange, Shriram Finance raised $425 million and Euro 40 million in a syndicated term loan deal.

The approval of the Reserve Bank of India and the Department of Financial Services, Government of India, is mandatory for the same.