They expects to recover 60-70 per cent of the exposure.
Mumbai: The State Bank of India (SBI) Chairman has said that Lehman exposure on group balance sheet is at $5 million and that he expects to recover 60-70 per cent of the exposure.
SBI Chairman OP Bhat added that the concerned banks' non-performing asset (NPA) may rise in future.
Bhat further said the SBI will be comfortable with 24-25 per cent of loan growth in FY09.
He added that the bank’s interest rates may not go down immediately. He further stated that the SBI is thinking of overseas buys but there no immediate plan.
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