NEWS & ADVICE : CAR LOANS
SBI keen on Indonesian bank takeover
By Vaibhav Aggarwal
Nov 15, 2010
Print    Email    RSS   

The largest lender of the country, State Bank of India is keen on expanding its presence in South East Asia. For this, the bank is planning to acquire an Indonesian bank. The bank has allotted USD 100 million for the deal.

The potential for growth is quite high in the Indonesian market. The banking major has identified 2-3 banks for the purpose too, said a senior official of the bank.

"We are not in favour of giving cash more than USD 100 million," the official said.

The bank presently has a subsidiary in the country by the name, PT Bank SBI Indonesia. This subsidiary has branch network of six.

Increasing branch network is a time consuming affair, said the official. This is why an inorganic growth route is considered as an easier mode of expansion.

SBI has 125 foreign offices spread across 23 countries including Singapore, USA, Canada and Mauritius at the end of March 2010.


 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Carnival of Indian Personal Finance Blogs #4
A chronicle of excesses by loan recovery...
Carnival of Indian Personal Finance Blogs # 8
Your dream car - with good Car Loans from...
TIPS FOR ASPIRING CAR BUYERS AND OWNERS


CAR LOAN STETMENT
Hello I am looking to renew my car insurance and I...
my loan no

NEWS THIS WEEK
SBH bank extended its Car and gold loan campaign till 31st March, 2015. Feb 11, 2015
KVGB bank signed MOU with TATA Motors Feb 10, 2015
SBH bank extended its scheme offering concession to loan defaulters Feb 2, 2015
Karnataka Bank tied up with TVS motors to Assist Auto rickshaw buyers Jan 27, 2015
RBI extended the Directions issued to Amanath Co-operative Bank for a period of six months Jan 22, 2015
News Archive