State Bank of Mysore raises Rs 200 crore through Basel-III compliant bonds

State Bank of Mysore, a Public sector lender, has raised Rs 200 crore by issuing Basel-III compliant bonds. The bank has on January 18, 2016 raised Rs 200 crore of non-convertible, redeemable, unsecured, Basel III Compliant Tier 2 Bonds, for inclusion in tier 2 capital of the bank, in the nature of debentures of face value of Rs 10 lakh each at par aggregating Rs 200 crore.

The bank has posted a rise of 29.52% in its net profit at Rs 131.98 crore for the quarter ended September 30, 2015 as compared to Rs 101.9 crore for the same quarter in the previous year. Total income from operation has increased by 3.65% at Rs 1969.96 crore for quarter under review as compared to Rs 1900.52 crore for the quarter ended September 30, 2014.

The bank’s gross NPA for the July-September quarter of the current fiscal improved to 4.91%, as compared to 5.07% in the same quarter of the previous year. Besides, bank’s Net NPA stood at 2.22% in Q2FY16.