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SBI's unit to raise Rs 100 crore

19 Jul 2011 Evaluate

State Bank of India's (SBI) unit - SBI Global Factors is looking to raise Rs 100 crore via 10-year bonds at 9.22 percent semi-annual coupon.

Recently, SBI, the country's largest lender, plans to raise $5 billion via overseas loans in the current fiscal. The bank had no plans to raise funds via Tier II bonds and in mid-May the bank would raise $3 billion to $4 billion in offshore debt in FY12.

The bank ‘s net profit for the quarter ended March 31, 2011 had plunged by 98.88% at Rs 20.88 crore whereas the same was at Rs 1866.60 crore for the quarter ended March 31, 2010. Its total income for the quarter under review increased by 18.07% at Rs 26536.84 crore whereas the same was at Rs 22474.12 crore for the March quarter of the previous Fiscal.

Peers
Company Name CMP
State Bank Of India 951.85
PNB 114.30
Bank Of Baroda 234.60
Canara Bank 118.70
Union Bank Of India 172.65
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