State Bank of India (SBI) today said it has raised its stake in its Indonesian subsidiary to 99 per cent.
The bank has acquired 23 per cent shares of Bank State Bank of India, Indonesia (BSBII) in a recent deal with
P T Ravindo Jaya,” SBI said in a filing on the BSE.
As per the latest holding structure of BSBII, it said, the local partner P T Ravindo Jaya share came down to 1 per
cent.
Following the change in the shareholding pattern, the name of the bank has been changed.
The Tier I capital of the subsidiary stood at 10.40 per cent while the total capital was 11.58 per cent at the end
of March 31, 2013.
The number of SBI’s foreign offices increased from 173 as on March 2012 to 186 at the end of 2012-13 spread across 34
countries.
The offices comprise 51 branches, 7 Representative Offices, 107 offices of the six foreign banking subsidiaries
and 21 other offices.
———————————–PTI