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SBI to divest non-core assets to rake in ₹3,000 cr
NEW DELHI: State Bank of India (SBI) will divest non-core investments of around ₹3,000 crore to shore up its capital. Despite the challenges that SBI faced last
Published on: Jun 29, 2016, 06:16:56 IST
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NEW DELHI: State Bank of India (SBI) will divest non-core investments of around ₹3,000 crore to shore up its capital. Despite the challenges that SBI faced last fiscal, the bank, however, is well capitalised to “absorb future shocks” and maintain future growth trajectory, according to the state-run lender’s Annual Report for 2015-16. Asset quality pressures accelerated during 2015-16 due to continued stress in the economy, declining commodity prices and two successive drought years, SBI chairman Arundhati Bhattacharya said in the bank’s annual report .
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