Breaking Into Top 10 Banks Globally Will Take Some Time, Says SBI Chairman CS Setty | Profit Exclusive
In terms of assets, SBI is already among the top 50 and recently it has entered the top 100 corporates by profits, Setty told NDTV Profit in an exclusive interaction.
State Bank of India is currently focusing on becoming one of the top 10 global banks in terms of market capitalisation, said Chairman CS Setty.
"Breaking into top 10 banks globally by assets will probably take some time...In terms of assets, we are already among the top 50 and recently it has entered the top 100 corporates by profits," he told NDTV Profit in an exclusive interaction.
SBI has a potential to reach the top 10. "In my view, India itself presents a great opportunity, if we are trying to become economically developed country by 2047 and SBI has around 20% of the GDP," he said.
Setty highlighted, that as the country's economy grows, SBI has the potential to grow internally. "The potential to grow in India is immense and we would like to capitalise on that," he said.
The public-sector lender also aims to become net zero by 2030, with its financial units set to go green soon. "As the country wants to be net zero by 2075, which means that SBI would be advancing its portfolio," he said.
SBI is setting up a Centre of Excellence within the bank to help understand new technology, he said. "We are setting up a Centre of Excellence within SBI, so that we not only help our own people, but understand the technologies and fund them. We would also help the industry raise the finance," he said.
