This article was first published 20 years ago

SBI to acquire more foreign banks soon

google preferred source
The State Bank of India is likely to finalise the acquisition of two banks in Asia and Africa in six to eight weeks, its chairman A K Purwar said on Tuesday.

He said SBI was eyeing small to medium-sized banks as part of its global expansion.

"We have acquired a bank in Mauritius and we propose to acquire a few more in 6-8 weeks," he said, addressing a conference on banking organised by Indian Institute of Foreign Trade in New Delhi.

SBI is going for expansion abroad as it cannot acquire a bank in the country, he said.

Moneywiz Live!