MUMBAI: State Bank of India (SBI) will open more branches in Nepal and consider options to re-enter Vietnam under a three-year goal to grow its international operations to as much as 15 percent of total business, a senior executive said. 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. SBI expects a new subsidiary that will house its retail operations in the United Kingdom to begin functioning in January-March 2018, Sengupta said.

Source: Economic Times November 09, 2017 10:07 UTC