SBI is planning to monetize non-core assets for Basel 3 requirement

January 2016, Banking
In brief: To meet the Basel 3 requirement, SBI has planned to monetise.


SBI said that it is planning to monetise non-core assets and list some of its subsidiaries for meeting capital needs as well as global risk norms, Basel III, which will kick in from March 2019.
Public sector banks need Rs 1.80 lakh crore to meet Basel III norms, while the government will provide only Rs 70,000 crore, SBI chairperson Arundhati Bhattacharya said, adding that the rest will have to be borne by banks through profits and non-core assets.
“For instance, for us, we have a number of non-core assets which we are looking at monetising. We also have very successful subsidiaries which we have not listed. So, we can look at those as well,” she said at an Assocham event here.
The bank has already announced plans to lower its stake in insurance ventures — SBI Life Insurance and SBI General.

In its life insurance venture, SBI proposes to sell up to 10 per cent stake, while it may be about 23 per cent in case of its general insurance company. Ms. Bhattacharya said that individual banks are examining various ways through which they can raise the capital.

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