‘SBI’s ₹25K cr QIP to fuel ₹12 lakh cr credit growth over 5-6 yrs’

‘On the debt capital side, the bank would mobilise Rs 12,500 crore via bonds as part of a periodic exercise’

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SBI Chairman C S Setty has said that Rs 25,000 crore equity capital raised through the qualified institutional placement route earlier this year would support Rs 12 lakh crore credit growth and maintain a capital adequacy ratio of 15 per cent over 5-6 years.

On the debt capital side, he said, the bank would mobilise Rs 12,500 crore through bonds as part of a periodic exercise.

“Even before this QIP was raised, our ability to fund credit growth has never been a problem. We wanted to strengthen the capital ratios, so we have done that. Our long-term strategy is to maintain CRAR at 15 per cent and Common Equity Tier 1 at 12 per cent” he said.