State Bank Of India

State Bank of India (SBI) 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 lakh each at par through private placement bearing coupon at 8.75% per annum payable annually with call option after 5 years or any coupon payment date thereafter aggregating to Rs 2,500 crore in second tranche.

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. However, total income of the bank increased by 9.38% to Rs 48928.60 crore for the quarter under review from Rs 44730.87 crore for the corresponding quarter of the previous year.