SBI eyes spot among top 10 global banks

The country's largest lender State Bank of India (SBI) is looking to be among 10 top global banks in market capitalisation terms in the next five years, chairman CS Setty said on Wednesday.

- ABHIJIT LELE

"The scope for value creation for the stakeholders is potentially very high. So the larger ambition is if the market supports whether bank can be part of the top 10 global banks in terms of the market capitalisation (five years)," he said after listing of shares issued under Qualified Institutional Placement (QIP) at NSE. SBI has raised ₹25,000 crore last week through the QIP route, largest by an Indian firm. At present, no Indian bank is among the top 10 global lenders in terms of market capitalisation.

The most valuable bank of the country, HDFC Bank, is ranked at 11. ICICI Bank is 17th and SBI is at the 27th place, according to Bloomberg data.