SBI Market Cap: Amidst India’s growing economy and ongoing development, another relief news is coming out. State Bank of India (SBI), the country’s largest government bank, has crossed the business figure of Rs 100 lakh crore. The next target of the bank is to join the list of top 10 most valuable banks in the world by the year 2030.
Due to which the place and dominance of Indian banking will be established in the whole world. RBI is also continuously taking steps to reform the banking sector. Information has been given by SBI that the aim of the bank is to further increase its value and necessary steps are being taken for this.
SBI Chairman’s statement
SBI Chairman CS Setty has informed that, in terms of market cap, SBI is one of the largest government assets in the country. At the same time, the aim of the bank is to continuously increase its value. The chairman said that we have earned well in the last few years. Still our capital ratio is lower than many other banks. We have set a target of making CAR 15 percent and CET-1 12 percent. Which is a combination of a strong capital lever according to future needs.
CS Setty further said that capital has never hindered the growth of the bank. The profit of the bank has increased in the last 4-5 years, due to which the capital of the bank has also increased. As chairman, SBI has growth-supporting capital of Rs 6 to 7 trillion.
SBI touched $100 billion market cap
On the fourth trading day of the week, the market capitalization of SBI crossed 100 billion dollars, due to which it joined the list of big companies like HDFC Bank, TCS, Reliance, Airtel and ICICI Bank. In the September quarter, the net profit of the bank increased by 10 percent and crossed the figure of Rs 20,160 crore.
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