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Article: SBI to unlock associate banks' value through public issue.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- March 25, 2006
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SBI to unlock associate banks' value through public issue
Mumbai, Mar 25 (PTI) The State Bank of India today said it was preparing to unlock the value of its unlisted associate banks through a public issue, as it welcomed the government's approval to amend the SBI (Subsidiary Banks) Act.
The amendment would help augment the Bank's ability to access capital market for raising funds.
SBI Chairman A K Purwar said the SBI group would unlock value of the associate banks to help them grow, but stopped short of giving details of when it would hit the market.
"Let the Act (get) passed," he said.
SBI has seven associate banks -- State ...