State Bank Of India

State Bank of India (SBI) has received an approval to raise up to Rs 12,000 crore by way of issue of Basel III compliant Tier II bonds, at par, through private placement, in such number of tranche(s), at such time(s) as may be considered appropriate and on such coupon(s) as may be decided at time of actual issuance. The committee of directors, duly authorized by the board, in their meeting held on December 21, 2015 has approved for the same.

The bank reported 25.11% rise in its net profit at Rs 3879.07 crore for the quarter ended September 30, 2015 as compared to Rs 3100.41 crore for the same quarter in the previous year. The bank’s total income increased by 12% to Rs 46854.81 crore for the quarter under review from Rs 41833.36 crore for the corresponding quarter of the previous year.