SBI to Raise Up to $3 Billion in FY26 via Foreign Currency Notes

The State Bank of India (SBI) has received approval from its Executive Committee to raise up to $3 billion in long-term funds during FY26. The bank will raise the amount in 1 or more tranches through public offers or private placements of senior unsecured notes under Regulation-S/144A. The instruments may be issued in US dollars or other major foreign currencies.

As of 09:32 AM on May 21, 2025, the State Bank of India (SBI) share price was trading at ₹786.20, a 0.07% increase.

Board Decision 

The decision was made during the committee’s meeting on May 20, 2025. SBI confirmed the development in a regulatory filing, stating that the capital will be raised in accordance with international norms to support its operations abroad.

Earlier in May, the bank’s board also approved plans to raise up to ₹25,000 crore during FY26 through Qualified Institutional Placement (QIP), Follow-on Public Offer (FPO), or other methods. This capital raise will be separate from the $3 billion offshore fundraising.

Read more: SBI Joins List of World's Most Profitable Companies with Record ₹77,561 Cr Profit

Financial Performance

For Q4FY25, SBI reported a standalone net profit of ₹18,642.59 crore, down from ₹20,698.35 crore in the same quarter last year. Net interest income stood at ₹42,774 crore. Operating profit for the quarter was ₹31,286 crore, up 8.83% year-on-year. Full-year operating profit stood at ₹1.10 lakh crore, a 17.89% increase from the previous year.

The bank declared a final dividend of ₹15.90 per share for FY25. The record date was May 16, 2025, with payment scheduled for May 30, 2025. Gross NPAs reduced to 1.82%, and net NPAs to 0.47%.

Conclusion

SBI’s board has approved plans to raise up to $3 billion in FY26 through foreign currency bonds, alongside a separate ₹25,000 crore domestic capital raise. This is a part of the bank’s financial strategy for the year ahead.

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