State Bank of India (SBI), the country’s largest lender has issued and allotted 25,000 AT1 Basel III compliant Non-convertible, Perpetual, Subordinated, Unsecured Debt instrument in the nature of debenture, of face value Rs 10,00,000 each at par through private placement bearing coupon at 8.39% per annum payable annually with call option after 5 years or any coupon payment date thereafter aggregating to Rs 2,500 crore in third tranche.
SBI offers a wide range of services in the Personal Banking, Agriculture/Rural, NRI services, SME and Corporate Banking etc. The bank has reported 31.73% fall in its net profit at Rs 2520.96 crore for the quarter ended June 30, 2016 as compared to Rs 3692.43 crore for the same quarter in the previous year.
