SBI announces completion of $1 billion Syndicated Social Loan Facility

SBI said it has completed a $1 billion Syndicated Social Loan Facility. It is the largest ESG loan by a commercial bank in the Asia Pacific and the second-largest social loan globally.

The State Bank of India (SBI) announced the completion of a $1 billion syndicated social loan facility. It is the largest Environmental, Social, and Governance (ESG) loan by a commercial bank in the Asia Pacific and the second-largest social loan globally, the bank said.

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More About The $1 billion Syndicated Social Loan Facility:

The facility of $1 billion was arranged through MLABs, MUFG bank and Taipei Fubon Commercial Bank Co. Ltd. MUFG and Taipei Fubon Commercial Bank are joint social loan coordinators while MUFG is the lead social loan coordinator for this transaction.

Significance of this syndicated transaction:

This syndicated transaction is significant for SBI and the Indian ESG financing market. It is the bank’s inaugural social loan and the first syndicated loan in the past five years, the bank added. This inaugural ESG transaction underscores SBI’s longstanding commitment to supporting green and social projects in India, the bank said.

State Bank of India: the largest commercial bank in India:

State Bank of India is the largest commercial bank in terms of assets, deposits, branches, customers, and employees. It is also the largest mortgage lender in the country which has so far fulfilled the home buying dreams of over 30 lakh Indian families.

The home loan portfolio of the bank has crossed Rs 6.00 lakh crore. As on December 31, 2022, the bank has a deposit base of over Rs 42.90 lakh crore with CASA ratio of 44.48 percent and advances of more than Rs 31 lakh crore. SBI commands a market share of 33.3 percent and 19.4 percent in home loans and auto loans respectively.