State Bank Of India

In order to fund its business growth, State Bank of India (SBI), country’s largest public sector lender, has raised USD 300 million (about Rs 2000 crore) through bonds from overseas investors. The country’s biggest lender has concluded the issue of USD 300 million AT1 Basel III compliant non-convertible, perpetual non call 5 year subordinated, unsecured note or bonds at a coupon 5.5 percent payable semi-annually under Bank's USD 10 billion RegS MTN Programme. The Notes will be issued through Bank's Dubai International Financial Centre Branch on September 22, 2016 and will be listed on Singapore Stock Exchange.

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.