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SBI completes USD 1 billion syndicated social loan

Country’s largest commercial bank, State Bank of India (SBI) on Tuesday announced completion of a $1 billion Syndicated Social Loan Facility. 

Published: 01st March 2023 08:20 AM  |   Last Updated: 01st March 2023 08:20 AM   |  A+A A-

SBI

Image used for representational purpose. (File Photo | EPS)

By Express News Service

MUMBAI:  Country’s largest commercial bank, State Bank of India (SBI) on Tuesday announced completion of a $1 billion Syndicated Social Loan Facility. 

This syndicated transaction is significant for SBI and the Indian ESG financing market since it is the biggest ESG (environment, social and governance) loan by a commercial bank in the Asia Pacific and the second-largest social loan globally. Additionally, this is the bank’s inaugural social loan and the first syndicated loan in the past five years.

“As a responsible and sustainable organization, we are committed to conducting our business operations with the highest standards of environmental, social, and governance (ESG) practices,” said Dinesh Khara, Chairman, SBI in a statement. “Issuance of our first social loan is an embodiment of our commitment to ESG driven by our belief that our long-term success depends not only on our financial performance,” he added.

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