[sbinews] SBI to raise Rs 4,000cr via debt (Business Standard)

NOTE: SBINEWS DOES NOT PERMIT CIRCULATION OF ATTACHMENTS. ATTACHMENTS, IF ANY, 
CIRCULATED WILL BE ONLY BECAUSE OF VIRUSES.  PLEASE,THEREFORE, IGNORE 
ATTACHMENTS IF ANY IN SBINEWS MESSAGES
************************************************************************
SBI to raise Rs 4,000cr via debt
(Business Standard)
Press Trust of India / New Delhi February 17, 2005

Keeping its option of a public offer open, State Bank of India (SBI) plans
to mop up Rs 3,000-4,000 crore through bonds this fiscal to meet business
needs.

"I am not ruling out any public offer, but we will preferably go for
subordinated debt (tier-II capital)," A K Purwar, chairman of SBI, said
today.

He said the bank may raise Rs 3,000-4,000 crore in the current fiscal
through subordinated debt and may also tap the international markets.

The borrowing plan comes in the wake of the surge in credit from industry
and meeting its own business requirements.

SBI logged 26% growth in credit in the third quarter, and is expecting an
overall growth of 20% in this fiscal.

The fund-raising by SBI also comes in the background of the stringent
Basle-II norms to be effective from 2006-07. "We will abide by the Basle-II
norms by 2007 as mandated by RBI," Purwar said.

On the interest rate scenario, Purwar said: "It will be stable in the short
term if the international rates and inflation in India remain at the current
level. It (interest rates) is not likely to move downwards."

_____________________________________________________________
Donât just e-mail them, BeaconFlash themâ

***************************************************************************
Mailing list (sbinews@xxxxxxxxxxxxx) related information:

News/articles about SBI and Banking related matters published  in the print 
media, Internet etc will be circulated through this Mailing List. 

The messages in this list will help in improving awareness of SBI and its 
activities vis-a-vis the happenings in the Banking industry. This should be of 
help to all staff members of SBI, particularly those who are preparing for 
promotional written tests/interviews/group discussions. Subscription to this 
Mailing List is simple and FREE. Please check the procedure below. Please share 
this information with other colleagues/branches that could be interested in 
subscribing to this Mailing List. 

The messages circulated here should not be deemed to have the official 
endorsement of the SBI or any of its employees. The correct factual position 
may be ascertained from official sources. 

To join this mailing list, just send an email to sbinews-request@xxxxxxxxxxxxx 
with the word 'subscribe' without the quotes in the subject of the email 
message. 

To leave this mailing list, just send an email to sbinews-request@xxxxxxxxxxxxx 
with the word  'unsubscribe' without the quotes in the subject of the email 
message. 

Archives (old messages) are available for viewing at:
http://www.freelists.org/archives/sbinews
Click on the month-year at the lower left corner to view messages posted during 
that month. 

This is an announcements/newsletter type mailing list i.e. only the Moderator/s 
can post messages to the list. 

This mailing list is maintained and moderated by Sri. R.S.Pai, currently 
working as Chief Manager(IT-Internet Banking), SBI, Corporate Centre, Mumbai. 
Visit http://rspai.tripod.com for some useful Banking, Reference and Utilities 
Links

Other related posts:

  • » [sbinews] SBI to raise Rs 4,000cr via debt (Business Standard)