Published on Tue, Nov 25, 2008 at 12:48 | Source : CNBC-TV18
Updated at Tue, Nov 25, 2008 at 13:09
Like this story, share it with millions of investors on M3
0
Like this story, share it with millions of investors on M3
SBI Life to list in 18-24 months
State Bank of India, or SBI, is concerned about the bank's asset quality, reports CNBC-TV18, quoting Newswire18. The bank said it plans to list SBI Life in 18-24 months, and will sell 5-10% of the same. "Shareholder bonus is not an issue, and the bank will do so if permitted."
State Bank of India, or SBI, is concerned about the bank's asset quality, reports CNBC-TV18, quoting Newswire18. "There is no concentration of risk on the bank's books."
SBI said it is not shying from lending, but wants proper risk assessment. It needs long-term funds to lend to infrastructure.
The bank said it plans to list SBI Life in 18-24 months, and will sell 5-10% of the same. "Shareholder bonus is not an issue, and the bank will do so if permitted."
SBI said it will decide on further mergers and acquisitions once the merger with State Bank of Saurashtra is completed.
The public sector bank said it sees more bad loans from small and medium enterprises.
Meanwhile, Reserve Bank of India or RBI said the banks' safety and health is of utmost importance. Its risk-weight cuts will release 70 bps capital to SBI.
