In the current financial year i.e. 2024-25, State Bank of India (SBI) will raise ₹ 20,000 crore through long term bonds. The company’s board has approved this today (19 June). According to the exchange filing, the company will raise this fund on public issue or private placement basis. According to media reports, the bank will spend this fund on developing infrastructure. About 1 week ago on June 11, the board of SBI approved raising $ 3 billion (Rs 25,031 crore) through loans in FY 2025. Then the bank had said that it would raise funds in one or more installments through public offer or private placement of senior secured notes. ₹ 5,000 crore was also raised in January Many PSU lenders including Canara Bank, Punjab & Sind Bank and Punjab National Bank are planning to raise funds through loans in this financial year. In January, SBI raised Rs 5,000 crore by selling ‘Basel III-compliant additional tier-I perpetual bonds’. The bank is also ready to raise equity capital to support growth Chairman Dinesh Kumar Khara had said last month that the lender is also ready to raise equity capital to support growth. On Wednesday, June 19, the bank’s shares rose 1.11% to close at Rs 854.30. Its market cap is Rs 7.60 lakh crore. State Bank shares have given a return of 2.85% in the last one month, 30.35% in 6 months and 50.18% in one year. Talking about this year so far (January 1 to June 19), the bank has given a return of 33.20% to its shareholders. SBI’s fourth quarter profit rises 24% to ₹ 20,698 crore SBI’s profit in the fourth quarter (January-March) of FY 2023-24 rose 23.98% year-on-year to ₹ 20,698 crore. In the same quarter a year ago, the public sector bank had reported a net profit of ₹ 16,695 crore.
