Home / Industry / Banking /  SBI board meeting today, to consider raising 10K cr via infrastructure bonds

The country's largest lender, State Bank of India (SBI), will be under focus today as its board will conduct a meeting for consideration of fundraising by issuing infrastructure bonds.

“Pursuant to Regulation 29 (1) (d) and other applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 we inform that a meeting of the Executive Committee of the Central Board of State Bank of India is scheduled to be held on Tuesday, 29th November, 2022 to consider inter alia, the following: To seek approval for raising of Infrastructure Bonds up to an amount of 10,000 crores (including a green shoe option of 5,000 crores) through a public issue or private placement, during FY23," the bank had informed in a regulatory filing on 24 November.

The shares of State Bank of India were trading below at 0.06% to 608.35 apiece at the BSE at 11 am.

SBI posted a surge of 74 per cent in its net profit to 13,264 crore, against 7,627 crore in the year-ago period. In the lender's statement, SBI said its net interest income grew 12.8 per cent to 35,183 crore. Home loan portfolio grew 14 per cent to 5.94 lakh crore and accounted for more than half its retail portfolio of 10.7 lakh crore. It also said corporate loans surged 21 per cent year on year to 9.2 lakh crore.

SBI Chairman Dinesh Khara said that although bank credit had been growing twice as fast as deposits, SBI has a large base of deposits. "We have 3.5 lakh crore, which was invested in liquid instruments when there was not enough opportunity to lend. We can now use this for funding credit growth," the chairman said.

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