SBI looking to raise up to $1 billion in bonds

By Pradeep Yuvaraj | October 13, 2009

SBI is all set to expand its business and explore contemporary models of banking to  keep abreast with the current banking trends in India. Towards this end, SBI looking to raise up to $1 billion in bonds.

On the sidelines of a banking event in Singapore, SBI Chairman Mr O.P Bhatt said that SBI is looking to raise funds between $500 million and $1 billion from a bond sale.

“We define benchmark size as something between $500 million to $1 billion, so we will see the reception,” O P Bhatt said

He mentioned that the bank is interested in expanding in Indonesia either by opening branches or through acquisitions. “In this part of the world: Indonesia, if we get something, yes, otherwise we will grow there organically, by opening branches,” he said.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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