SBI’s board had approved fundraising of up to Rs 11,000 crore of funds through AT-1 and tier-II bonds to meet regulatory requirements and support business growth
Country’s largest lender State Bank of India may look to raise funds worth Rs 4,000 crore through issuance of tier-II bonds once it completes its planned sale of Rs 7,000 crore worth of additional tier-I (AT-1) bonds at the end of this month, sources said.
Another state-owned lender, Bank of Baroda
, is also likely to issue AT-1 bonds, either at the end of August or in September, the sources said.
Bank of Baroda is looking to sell such bonds worth a total of Rs 3,000-4000 crore through multiple tranches.
First Published: Aug 10 2022 | 7:18 PM IST