SBI triples target for purchase of good-quality asset portfolio from NBFCs

According to SBI's internal assessment, there may be an opportunity to buy additional portfolio in range of Rs 200 billion to Rs 300 billion

State Bank of India, the country’s largest lender, on Tuesday said it had tripled its target for purchase of loan portfolio from non-banking financial companies (NBFCs) and was looking for opportunities both in priority and non-priority sectors. 

According to the bank’s internal assessment, there may be an opportunity to buy additional portfolio in range of Rs 200 billion to Rs 300 billion, SBI said in a statement.

SBI, which had initially planned for a growth of Rs 150 billion through portfolio purchase during the current year, believes there is a good opportunity to expand its loan portfolio at attractive rates.