SBI gets board nod to raise capital upto Rs 11,000 cr

21 Jul 2022 , 09:34 AM

The bank will raise fresh additional tier 1 (AT1) capital up to an amount of Rs 7,000 crore, and will raise fresh tier 2 capital upto Rs 4,000 crore. State Bank of India (SBI) is an Indian multinational, public sector banking and financial services statutory body. As of 31 March 2022, the Government of India held 57.79% stake in the bank. SBI reported 41.28% rise in standalone net profit to Rs 9,114 crore on a 1.58% increase in total income to Rs 82,613 crore in Q4 FY22 over Q4 FY21. Shares of SBI were down 0.20% to Rs 507.60 on the BSE. Powered by Capital Market – Live News