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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