Business Recorder - Business & Finance - Money & Banking https://www.brecorder.com/ Business Recorder en-Us Copyright 2026 Thu, 13 Aug 2026 18:51:26 +0500 Thu, 13 Aug 2026 18:51:26 +0500 60 India's State Bank eyes buys, overseas expansion https://www.brecorder.com/news/6458/indias-state-bank-eyes-buys-overseas-expansion <p class="MsoPlainText"><img style="margin-right: 10px; margin-bottom: 10px; float: left;" src="https://i.brecorder.com/images/stories/pics2011/mar/state-bank-india-400.jpg" width="400" height="300" />MUMBAI: State Bank of India is looking to buy banks in Africa and Southeast Asia as it seeks to ramp up its overseas operations, a senior company source with direct knowledge of the matter said. India's largest lender plans to spend roughly $200 million on an overseas acquisition and will mainly focus on banks with strong corporate banking services in the two regions, the source told Reuters.</p> <p class="MsoPlainText">"Earlier, we were looking at large acquisitions but after the global financial meltdown we are looking at smaller deals," the source said, declining to be named as he was not authorised to speak to the media.</p> <p class="MsoPlainText">State Bank, which has a market value of about $37 billion, is aiming to raise the international operations' contributions to the group net profit to 25 percent over the next five years from about 16 percent now, the source said.</p> <p><center><b><i>Copyright Reuters, 2011</i></b><i></i><br /></center></p> MUMBAI: State Bank of India is looking to buy banks in Africa and Southeast Asia as it seeks to ramp up its overseas operations, a senior company source with direct knowledge of the matter said. India's largest lender plans to spend roughly $200 million on an overseas acquisition and will mainly focus on banks with strong corporate banking services in the two regions, the source told Reuters.

"Earlier, we were looking at large acquisitions but after the global financial meltdown we are looking at smaller deals," the source said, declining to be named as he was not authorised to speak to the media.

State Bank, which has a market value of about $37 billion, is aiming to raise the international operations' contributions to the group net profit to 25 percent over the next five years from about 16 percent now, the source said.

Copyright Reuters, 2011

]]> Business & Finance https://www.brecorder.com/news/6458 Thu, 10 Mar 2011 11:38:09 +0500 none@none.com (Syed Murtaza Gheblehzadeh)