The Hindu Business Line : SBI set to expand global operations

Mr C. Bhattacharya, MD, SBI, about to take his seat at the seminar on "Transformation in banking for accelerated economic growth' in Kolkata on Monday. To his right is Mr C. K. Dhanuka, Chairman, FICCI (ER). - - Parth Sanyal

Kolkata , April 26

STATE Bank of India is set to expand its international operations, courtesy new offices in promising markets. It is looking at more points of presence in West Asia and the Far East.

India's largest commercial bank expects to cover 10-15 more locations in the days ahead, covering all the neighbouring countries as well as a few other important nations adequately.

Mr C. K. Bhattacharya, MD, said the bank was seeking to play a bigger role on the global front, based on opportunities likely to arise in other markets. It recently started a new office in Bangladesh, its second in that country. He was addressing the members of the Indian Chamber of Commerce (ICC) on Monday.

Nearer home, SBI is looking at newer models of credit. It hopes to become more active in the retail segment and is bullish on the services sector, especially those related to healthcare, education and tourism. Lending to infrastructure projects will also be a big business for it in the coming days.

As for year-end estimates, the bank is expected to announce an 18 per cent increase in deposits and a 16 per cent increase in credit. The retail-lending figure will also record an improvement. It also hoped to record a decent increase in its project finance portfolio.

Mr Bhattacharya, interestingly, maintained that the seven SBI associates would play an even greater role in future, with some of them remaining local players operating in select arenas.

The combined business recorded by the associates had increased, while three of them ended the past year with zero NPAs, he said.

``Banks are aggressively investing in infrastructure projects, including roads and power. Commercial banking is assuming bigger proportions. We believe that the manufacturing sector will increase in stature, seeking out more credit from lenders. Even the rural economy will absorb more funds. All this will require good delivery channels,'' he told ICC members.

The emerging situation will also require more specialised products and services, he said.

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