Correct Answer : $1 Billion
State Bank of India (SBI) on Wednesday (3rd Jan 2024) said it has raised USD 1 billion or (about Rs 8,300 crore) to cater to the domestic ESG financing market.
* The bank has concluded the issuance of USD 1 billion (USD 750 million and green shoe of USD 250 million) through Syndicated Social Loan, SBI said in a regulatory filing.
* The loan book was closed on January 2, 2024, it said.
* Last year too, the country's largest lender had raised USD 1 billion syndicated social loan.
* The fund raised would would cater to domestic ESG (Environmental, Social and Governance) financing market.
* The funds were raised through two tenures: a three-year and a five-year loan. These funds were raised at 80 basis points and 100 basis points over the secured overnight financing rate (SOFR), respectively.
* SOFR is a benchmark rate for dollar-denominated derivatives and loans, which replaced the London Interbank Offered Rate or Libor.
* During the second quarter ended September 30, 2023, the bank reported an 8 per cent increase in the net profit to Rs 14,330 crore.
* The net interest income (NII) of the State Bank of India jumped 12.3 per cent to Rs 39,500 crore compared to the same period last year.
* From an asset quality perspective, its gross non-performing assets ratio was at 2.55 per cent as of September 30, improving from 3.52 per cent in the year-ago period and 2.76 per cent in the first quarter of the current fiscal..
Source : Business Standard
