State Bank of Travancore to raise funds up to Rs 1,250 crore

31 Dec 2015 Evaluate

State Bank of Travancore has received an approval for raising of up to Rs 1,250 crore by way of issue of Basel III compliant Tier II Bonds. The Executive Committee of the board of directors of the bank in its meeting held on December 28, 2015 has approved for the same.

State Bank of Travancore (SBT) was incorporated in 1945 as Travancore Bank sponsored by the erstwhile princely state of Travancore. Under a special statute of the Indian Parliament (SBI subsidiary Banks Act 1959) it has been made an Associate of the State Bank of India and a member of the State Bank Group, the largest banking group in India.


Peers
Company Name CMP
SBI 816.05
Bank Of Baroda 236.10
Canara Bank 96.95
PNB 99.82
Union Bank Of India 114.95
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