State Bank of India (SBI) will be raising an additional capital of Rs 6,000-7,000 crore in 2006-07 through a mix of subordinate debt, hybrid debt and preferential capital. | |
| A K Purwar, chairman, said, "This year, we will be raising between Rs 6,000 crore and Rs 7,000 crore. It will a mix of subordinate debt, hybrid debt and preferential capital. To begin with, we will be raising Rs 500 crore as subordinate debt with a greenshoe option." |
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| The bank has set target of 16 per cent growth in deposit and 23 per cent growth in advances. |
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| "The actual advance might be a little more than our target of 23 per cent," he added. |
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| Meanwhile, to emerge among the top 50 banks in the world within three to four years, SBI will continue its overseas acquisitions in the current financial year. |
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| Purwar said, "We are actively considering acquisitions of few more overseas banks in 2006-07. The focus is on Asia and Africa." |
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| In 2005-06, the bank acquired majority stake in three overseas banks, based in Mauritius, Indonesia and Kenya. The bank is also open to domestic acquisitions. |
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