News
RETAIL BANKING | Tony Chua, India
view(s)

SBI: Business as usual even without government funding in FY2011

State Bank of India can continue its growth this financial year even if the Indian government's proposed capital infusion doesn't take place, a top executive said Tuesday.

The bank--India's largest state-run lender by assets--is looking to bolster its capital base to keep up with its fast-growing loan portfolio and expects to raise additional capital from the Indian government.

"But, we will definitely need to raise funding [from the government] next year," Diwakar Gupta, the bank's chief financial officer, told reporters.

According to a report in Fox Business, Gupta, also a managing director at the bank, said the bank can look at other options such as raising funds via the issue of retail bonds in case the government's fund infusion doesn't happen.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.