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- SBI Seeks 1.25 Billion Dollars Loan In One Of Country’s Largest Bank Lending In 2024
New Delhi18 hours ago
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State Bank of India (SBI) has planned to take a loan of 1.25 billion dollars i.e. Rs 10,553 crore. This will be the largest loan taken in dollars by any bank this year.
According to media reports, people associated with the case gave this information. CTBC Bank, HSBC Holdings and Taipei Fubon Bank are helping SBI in obtaining this five-year loan. On this loan, SBI will have to pay 92.5 basis points more interest than the secured overnight financing rate. SBI is the largest bank in the country.
No response has been received from SBI regarding this news till now.
SBI is taking this loan through its branch located at Gujarat International Finance Tech-City. The loan money will be used for general business needs. However, no response has come so far from SBI in this regard.
SBI is raising foreign currency loans in collaboration with local financial institutions.
SBI is raising this foreign currency loan in collaboration with some local financial institutions. Due to strict rules in India, NBFCs are raising loans in dollars. NBFC needs money to expand its business.
Cholamandalam Investment and Finance Company is raising loan of 300 million dollars
Cholamandalam Investment and Finance Company is raising a loan of $300 million. Bank of Baroda is raising a loan of $75 crore. Despite these efforts to raise loans in dollars from abroad, the value of loans raised in dollars this year has declined by 27% to $14.2 billion.
In July, SBI had raised a loan of $ 75 crore.
This information is based on Bloomberg data. The reason for taking less loan in dollars this year is that till now no big company has raised loan. In July, SBI had raised a loan of $75 crore. It was a three-year loan.
SBI’s second quarter profit increased by 28%
State Bank of India (SBI), the country’s largest government bank, has made a net profit (standalone net profit) of Rs 18,331 crore in the second quarter of the financial year 2024-25. There has been an increase of 28% on annual basis. A year ago, i.e. in the second quarter of the financial year 2023-24, the company had made a profit of Rs 14,330 crore.
Bank’s total income increased by 15.13%
The total income of the bank increased by 15.13% on an annual basis in the July-September quarter to Rs 1,29,141 crore, which was Rs 1,12,169 crore in the same quarter last year. It has increased by 5.26% compared to the previous quarter. The bank’s income in April-June was Rs 1,22,687 crore.
Net interest income decreased by 5%
In the July-September quarter, SBI’s net interest income (NII) declined by 5% on year-on-year (YoY) basis to Rs 39,500 crore. It was Rs 41,620 crore in the same quarter last year. It has also declined by 4% compared to the April-June quarter. In Q1 it was Rs 41,125 crore.
SBI is the largest government bank of the country.
SBI State Bank of India is the largest government bank in the country. The government holds 57.59% stake in SBI. It was established on 1 July 1955. The headquarters of the bank is in Mumbai. The bank has more than 22,500 branches and more than 50 crore customers. The bank operates in 29 countries of the world. It has 241 branches outside India.
