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SBI triples target for purchase of good-quality asset portfolio from NBFCs

According to SBI's internal assessment, there may be an opportunity to buy additional portfolio in range of Rs 200 billion to Rs 300 billion

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State Bank of India is an Indian multinational, public sector banking and financial services company | Photo: Shutterstock

BS Web Team New Delhi

Last Updated : Oct 09 2018 | 4:33 PM IST

State Bank of India, the country’s largest lender, on Tuesday said it had tripled its target for purchase of loan portfolio from non-banking financial companies (NBFCs) and was looking for opportunities both in priority and non-priority sectors.

According to the bank’s internal assessment, there may be an opportunity to buy additional portfolio in range of Rs 200 billion to Rs 300 billion, SBI said in a statement.

SBI, which had initially planned for a growth of Rs 150 billion through portfolio purchase during the current year, believes there is a good opportunity to expand its loan portfolio at attractive rates.