SBI to raise Rs 10,000 crore through infrastructure bonds

30 Nov 2022 , 09:27 AM

State Bank of India informed the exchanges that the Executive Committee of the Central Board of the Bank at its meeting accorded approval for raising Infrastructure Bonds during FY23.

The board has approved raising infrastructure bonds up to an amount of Rs10,000 crore, including a green shoe option of Rs5,000 crore, via a public issue or private placement during FY23.

The meeting was held on November 29, 2022.

SBI’s gross non-performing assets (NPA) improved to 3.52% in the July-September quarter from 3.91% in Q1FY23 and 4.9% in Q2FY22. Similarly, net NPAs fell to 0.8% in the September 2022 quarter, against 1% in the June 2022 quarter and 1.52% in the September 2021 quarter.

The lender’s Chairman Dinesh Kumar Khara highlighted that the bank strives to maintain its asset quality despite higher loan growth.

At around 9.36 AM, State Bank of India was trading at Rs608.90 up by 0.08% from its previous closing of Rs608.40 on the BSE. The scrip opened at Rs609.30 and touched intraday high and low of Rs611.50 and Rs608.15 respectively.

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