[sbinews] SBI set to expand global operations (Wallet Watch and Businessline)
- From: "Rajendra S. Pai" <rspai9@xxxxxxxxx>
- To: sbinews@xxxxxxxxxxxxx
- Date: Thu, 29 Apr 2004 04:09:41 -0700 (PDT)
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SBI set to expand global operations
(WalletWatch.com and Businessline)
Tuesday, 27 April , 2004, 08:26
State Bank of India is set to expand its international
operations, courtesy new offices in promising markets.
It is looking at more points of presence in West Asia
and the Far East.
India's largest commercial bank expects to cover 10-15
more locations in the days ahead, covering all the
neighbouring countries as well as a few other
important nations adequately.
C. K. Bhattacharya, MD, said the bank was seeking to
play a bigger role on the global front, based on
opportunities likely to arise in other markets. It
recently started a new office in Bangladesh, its
second in that country. He was addressing the members
of the Indian Chamber of Commerce (ICC) on Monday.
Nearer home, SBI is looking at newer models of credit.
It hopes to become more active in the retail segment
and is bullish on the services sector, especially
those related to healthcare, education and tourism.
Lending to infrastructure projects will also be a big
business for it in the coming days.
As for year-end estimates, the bank is expected to
announce an 18 per cent increase in deposits and a 16
per cent increase in credit. The retail-lending figure
will also record an improvement. It also hoped to
record a decent increase in its project finance
portfolio.
Bhattacharya, interestingly, maintained that the seven
SBI associates would play an even greater role in
future, with some of them remaining local players
operating in select arenas.
The combined business recorded by the associates had
increased, while three of them ended the past year
with zero NPAs, he said.
``Banks are aggressively investing in infrastructure
projects, including roads and power. Commercial
banking is assuming bigger proportions. We believe
that the manufacturing sector will increase in
stature, seeking out more credit from lenders. Even
the rural economy will absorb more funds. All this
will require good delivery channels,'' he told ICC
members.
The emerging situation will also require more
specialised products and services, he said.
=====
R.S.Pai, Web Address: http://rspai.tripod.com
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