InvestorQ : By when is SBI planning to raise the proposed Rs.14,000 crore via Tier-1 paper?
swati Bakhda made post

By when is SBI planning to raise the proposed Rs.14,000 crore via Tier-1 paper?

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Sam Eswaran answered.
2 months ago
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The SBI central board has just approved the raising of a sum of Rs.14,000 crore through the issue of Basel-III compliant bonds. These bonds are likely to be denominated either in INR or in US dollars. This pertains to the fund raising target for fiscal year FY22, currently under progress.

For SBI, this will help to spruce up Tier-1 capital in the light of many of the rating agencies raising some degree of concern over the potential stress in the balance sheet of banks post COVID 2.0. Banks have been looking to boost capital to address the challenge of deteriorating asset quality and possible impact on profitability.

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