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

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.