State Bank Of India

State Bank of India (SBI), the nation’s biggest lender, has decided to raise $300 million by way of issuing bonds and the proceeds would be used for general corporate purposes.  The bonds will carry an interest rate of 3.95% per annum, which will be paid semi-annually. The issuer of the bonds will be the London branch of SBI and the bank plans to list the notes on SIX Swiss Exchange.

SBI has registered 30.54% jump in its net profit at Rs 3100.41 crore for second quarter ended September 30, 2014 as compared to Rs 2375.01 crore for the same quarter in the previous year. Total income of the bank has increased 12.46% at Rs 41833.36 crore for Q2FY15 as compared Rs 37199.92 crore for the corresponding quarter previous year.