State Bank of India (SBI), the largest lender in the country, has successfully raised Rs 10,000 crores through its first Basel III compliant Tier 2 Bond for the current financial year. These bonds have a tenor of 15 years and come with a coupon rate of 7.81%. The first call option can be exercised after 10 years. The offering was oversubscribed almost four times the base issue size of Rs 4,000 crores, with bids totaling Rs 15,907 crores. This robust demand attracted 98 bids, demonstrating the high level of investor trust in the nation's largest bank. Shri Dinesh Khara, SBI's Chairman, expressed his satisfaction, "The wider participation and heterogeneity of bids demonstrated the trust investors place in the country's largest bank".

The bank received an overwhelming response from investors and has decided to accept Rs 10,000 crores at a coupon rate of 7.81%, payable annually over a 15-year period. The bond offering includes a call option that can be exercised after 10 years and on anniversary dates thereafter. This is the bank's first Tier 2 Bond offering for the current financial year. It's worth noting that the bank's instruments have been rated AAA with a stable outlook by CRISIL and India Ratings & Research Private Limited.

State Bank of India is the largest commercial bank in India, with an impressive track record of achievements. It has helped over 30 lakh Indian families fulfill their homeownership dreams with a home loan portfolio exceeding Rs. 6.53 lakh crore. As of June 2023, the bank's deposit base is over Rs. 45.31 lakh crore with a CASA ratio of 42.88% and advances exceeding Rs. 33 lakh crore. SBI holds a market share of 33.4% and 19.5% in home loans and auto loans, respectively. With an extensive network of 22,405 branches, 65,627 ATMs/ADWMs in India, and 78,370 BC outlets, SBI has successfully established itself as a leader in the banking industry.

SBI's digital strategy has been very successful, as 63% of new savings accounts were opened through the integrated digital and lifestyle platform YONO in FY23. YONO has more than 6.36 crore registered users and has witnessed an average of 1 crore daily logins in Q1 FY24. Regarding digital lending, the bank disbursed pre-approved personal loans worth Rs. 5,428 crore through YONO during the same period. SBI also has the highest number of followers on Facebook and Twitter among all banks worldwide.