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SBI eyes profitable expansion outside India, to open more branches in Nepal

India's top lender, with assets of more than $500 billion, was catapulted into the league of the top 50 global banks this year

Reuters  |  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. India's top lender, with assets of more than $500 billion, was catapulted into the league of the top 50 global banks this year after it merged five subsidiary banks with itself. But mergers and acquisitions are expected to play only a tiny role as SBI seeks to ramp up growth in the overseas business, which now makes up about 11 percent of all ...

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First Published: Thu, November 09 2017. 16:28 IST
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