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SBI to focus on retail banking

SBI would focus on retail banking as it has been identified as the growth area, a top official said on Wednesday.

india Updated: Oct 25, 2006 23:03 IST

The country's largest commercial bank State Bank of India (SBI) would focus on retail banking as it has been identified as the growth area, a top official said on Wednesday.

Agarwal told reporters that during the current financial year, the expected growth in advances and deposits was 25 per cent and 20 per cent respectively, SBI managing director Yogesh Agarwal said on Wednesday.

He said that the bank was keen to start operations in China and Singapore, for which talks had been held with the respective governments.

Speaking about the capital raising plan, he said that the capital adequacy ratio (CAR) at present was comfortable at 12 per cent.

He said that the bank would have no problem in meeting the Basel II risk capital requirements when it comes into effect from April 2007.

Gross and net NPA of the bank stood at two per cent and less than one per cent respectively.

SBI on Wednesday opened its 785th branch in the Bengal circle at Singur, close to the proposed Tata Motors site.

In the Bengal circle, the total amount of business was Rs 35,000 crore till date, and was expected to go up another Rs 12000 crore in the current fiscal.

First Published: Oct 25, 2006 23:03 IST