SBI targets 20 percent business from foreign operations
September 6th, 2010 - 5:57 pm ICT by IANS
Kolkata, Sep 6 (IANS) The country’s largest lender, State Bank of India (SBI), is targeting 20 percent of its net income from international operations in the next two-three years, a top official of the bank said here Monday.
“We expect 20 percent of our net income will come from international operations,” S.K. Bhattacharyya, managing director, told reporters on the sidelines of the ongoing banking conclave organised by industry lobby FICCI.
At present, international operations comprise 12 percent of the bank’s net income.
SBI has 70 branches across the world.
Bhattacharyya said SBI may extend its home loan scheme at eight percent interest rate, which will expire Sep 30, because of the “excellent” demand.
“Why shouldn’t we continueâ¦this is a good scheme,” he said, adding that a final decision would be taken at a meeting later this month.
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Tags: bank of india, bhattacharyya, conclave, ficci, final decision, foreign operations, home loan, interest rate, international operations, loan scheme, managing director, net income, sbi, sidelines, state bank, state bank of india, targets