Connect with us

Business

SBM Bank India raises USD16.5million via bonds

Published

on

SBM Bank India raises USD16.5million via bonds

SBM Bank India, a wholly-owned subsidiary of State Bank of Mauritius, has announced that it has raised USD16.5million through sales of bonds. 

The bank raised money by issuing Basel-III compliant Tier-II bonds having maturity period of 10 years, it said in a statement. 

Additionally, it also raised USD40million through an automatic refinance facility of the National Bank for Agriculture and Rural Development (NABARD), it said.

SBM Bank India is leveraging on its position as a universal bank to tie up with fintech firms for extending services, which helps it with fees income and data mining, it said. 

Original article at The Economic Times

Bookmark (0)

No account yet? Register

Spread the News
The information and opinions expressed in our published works are those of authors/sources believed to be reliable. NewsMoris makes no representations as to accuracy, completeness, suitability, or validity of any information expressed.
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

The information and opinions expressed in our published works are those of authors/sources believed to be reliable. NewsMoris makes no representations as to accuracy, completeness, suitability, or validity of any information expressed.