SBI considering listing subsidiaries to meet long term capital need

The State Bank of India is considering listing its subsidiaries, particularly those in the insurance and card businesses, to fund its long term capital requirement, its chief said here on Saturday.

Speaking on the sidelines of an interaction organised by the Indian Chamber of Commerce, SBI chairperson Arundhati Bhattacharya said the bank was also toying with ideas like leveraging its real estate assets and through infusion of government funds.

"We are talking about listing the subsidiaries; but not this year. Among the subsidiaries we are looking to list are the life insurance subsidiary (SBI Life Insurance) and the cards business (SBI Cards)," she said.

Bhattacharya, however, did not give any timeframe for listing the two subsidiaries. "It is very difficult to tell you when."

The banking sector needs around Rs 4.6 lakh crore to meet the Basel III - international regulatory framework for banks - norms, she said.

Bhattacharya said SBI was expecting a credit and deposit growth of 14 percent in the 2015-16 fiscal.