SBI keen to sell stake in insurance subsidiaries


sbiState Bank of India (SBI), one of the largest state-run banks in India, is keen to sell a percentage of its stake in the insurance subsidiaries and is currently in talks with the respective ventures.

“We have started talks with all our insurance joint venture partners and certain amount of action has also started,” said SBI Chairperson Arundhati Bhattacharya.

“Not only are the venture partners, but third party investors also interested in buying a stake in the SBI’s insurance ventures,”

The bank has partnered with the BNP Paribas Cardif to establish a life insurance subsidiary, in which 74 percent stake will belong to the bank and the remaining 26 percent to the partner.