SBI may finalize more overseas acquisition in 6-8 weeks

By agencies   |   Wednesday, 31 August 2005, 07:00 Hrs
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NEW DELHI: IndiaÂ’s biggest banking group, State Bank of India is likely to finalize the acquisition of two banks in Asia and Africa in 6-8 weeks, its chairman A K Purwar said.

He said SBI was eyeing small to medium-sized banks as part of its global expansion.

"We have acquired a bank in Mauritius and we propose to acquire a few more in 6-8 weeks," he said.

SBI is going for expansion abroad as it cannot acquire a bank in the country, he said.

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