SBI eyes network expansion in Bangladesh

14 November 2011: The country's largest public sector bank, State Bank of India (SBI) is going to expand its network of branches in Bangladesh, despite a recent downgrading of its credit rating by Moody's. The bank is planning to open two more branches in Bangladesh by December 2012 after opening two new branches at Rajshahi and Khulna recently.

Moody's recently downgraded its rating of SBI's financial strength by one notch to 'D+' on account of the lender's low Tier-I capital ratio and deteriorating asset quality. The bank has planned to open the two branches at Narayangunj and Chittagong.
SBI is eyeing to capture the home loan retail market and wholesale market in Bangladesh in the absence of lesser availability of long-term finances in the country. Having banks exposure in Bangladesh about `1,350 crore, it huge potential for home loan market.

Source: Economic Times