NEWS & ADVICE : FIXED DEPOSITS
SBI aims to penetrate deeper into foreign land
By Neelima Shankar
Mar 11, 2011
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The country's largest lender, State Bank of India is looking to increase its presence in African as well as South East Asian mainland. In the process, the lender is eyeing to buy local banks in these regions, informed a senior source.

"Earlier, we were looking at large acquisitions but after the global financial meltdown we are looking at smaller deals," the source informed.

The lender is planning to increase the contribution of its international operations to 25% of its total net profit from the existing 16% now.


 


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