SBI to raise capital through bonds to grow its loan book

SBI said that its board will meet on December 14 to decide on raising capital through Tier I bonds for growing its loan book

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SBI to raise capital through bonds to grow its loan book

New Delhi: State Bank of India (SBI) said that its board will meet on December 14 to decide on raising capital through Tier I bonds. As per a regulatory filing, SBI said that it will seek “approval for raising of Additional Tier 1 (AT 1) capital by way of issuance of Basel III compliant debt instruments in INR and / or any other convertible currency through a public offer or private placement to Indian and / or overseas investors up to March 31, 2024.”

The capital raised via bonds would help the bank grow its loan book, it added.

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