<p>In order to serve the local ESG finance market, the State Bank of India (SBI) announced on Wednesday that it had raised USD 1 billion, or around Rs 8,300 crore.</p>
<p><img decoding=”async” class=”alignnone wp-image-337348″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/01/theindiaprint.com-sbi-secures-1-billion-from-international-market-to-serve-esg-financing-sector-sbi-750×563.jpg” alt=”theindiaprint.com sbi secures 1 billion from international market to serve esg financing sector sbi” width=”1369″ height=”1027″ title=”SBI Secures $1 Billion From International Market To Serve ESG Financing Sector 6″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/01/theindiaprint.com-sbi-secures-1-billion-from-international-market-to-serve-esg-financing-sector-sbi-750×563.jpg 750w, https://www.theindiaprint.com/wp-content/uploads/2024/01/theindiaprint.com-sbi-secures-1-billion-from-international-market-to-serve-esg-financing-sector-sbi-1024×768.jpg 1024w, https://www.theindiaprint.com/wp-content/uploads/2024/01/theindiaprint.com-sbi-secures-1-billion-from-international-market-to-serve-esg-financing-sector-sbi-768×576.jpg 768w, https://www.theindiaprint.com/wp-content/uploads/2024/01/theindiaprint.com-sbi-secures-1-billion-from-international-market-to-serve-esg-financing-sector-sbi-150×113.jpg 150w, https://www.theindiaprint.com/wp-content/uploads/2024/01/theindiaprint.com-sbi-secures-1-billion-from-international-market-to-serve-esg-financing-sector-sbi.jpg 1200w” sizes=”(max-width: 1369px) 100vw, 1369px” /></p>
<p>According to a regulatory filing from SBI, the bank has completed the issue of USD 1 billion (USD 750 million and a green shoe of USD 250 million) via Syndicated Social Loan.</p>
<p>It said that the loan book was closed on January 2, 2024.</p>
<p>The biggest lender in the nation raised $1 billion in syndicated social loans last year as well.</p>
<p>The domestic ESG (environmental, social, and governance) finance market would be served by the funds produced.</p>
<p>Two loan terms were offered: a three-year loan and a five-year loan. The secured overnight financing rate (SOFR) was increased at a rate of 80 basis points and 100 basis points, respectively.</p>
<p>Libor, or the London Interbank Offered Rate, was superseded by SOFR as the benchmark rate for loans and derivatives denominated in dollars.</p>
<p>In the second quarter that concluded on September 30, 2023, the bank announced an 8% rise in net profit, amounting to Rs 14,330 crore.</p>
<p>Compared to the same time the previous year, the State Bank of India’s net interest income (NII) increased by 12.3% to Rs 39,500 crore.</p>
<p>As of September 30, its gross non-performing assets ratio was 2.55%, which is a measure of asset quality.</p>
