State Bank of India
(SBI), the country’s largest lender, is planning to raise up to
$2bn to grow its international retail lending book.
To date, SBI’s overseas
operations have been focused on wholesale banking, but the bank is
now eyeing retail mortgage and auto loan products in countries such
as the UK and the US.
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In the past year, SBI
has built up a retail lending book of $50m in Singapore in a pilot
project.
SBI is also keen to
expand its operations in Indonesia and is reportedly targeting an
acquisition of an Indonesian lender in a cash deal not exceeding
$100m.
SBI’s existing
Indonesian subsidiary, PT Bank SBI Indonesia, has a network of six
branches.
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