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SBI is now making its presence felt Outside India which is the largest commercial bank and a household name in the country .S.B.I on Friday came up with its next prized catch within a year -the Kenya- based GIRO Commercial Bank Ltd. It said in the late evening press statement that " SBI has executed documents for acquiring 76% of the paid-up capital along with management control of GIRO Commercial Bank with its registered office in Nairobi ,subject to regulatory approvals,". SBI ,however did not disclose the consideration paid and the finanacial perfomance of the bank.GIRO Commercial Bank Ltd ,a closely-held entity with promoters of Indian origin, has half a dozen branches located in Nairobi, Mombassa and Kisumu. |
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| Posted : 10/8/2005 |
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