SBI was catapulted into the league of the top 50 global banks this year after it merged five subsidiary banks with itself. India’s top lender, with assets of more than $500 billion, was catapulted into the league of the top 50 global banks this year after it merged five subsidiary banks with itself. SBI’s overseas growth plan also comes at a tricky time for India lenders who have been burdened with a record $146 billion in bad loans. Sengupta said the overseas growth would be in a “risk-mitigated” fashion and not at the cost of profitability. The expansion may not lead to a substantial rise in the total number of international offices as SBI is also shutting unprofitable ones, he said.

Source: Mint November 10, 2017 04:07 UTC