State Bank Of India Launches Custodial Services With Societe Generale
30 March 2010 - 12:23AM
Dow Jones News
State Bank of India (500112.BY) said Monday the bank and Societe
Generale Securities Services have jointly launched SBI Custodial
Services Pvt. Ltd. to offer securities services to institutional
investors.
The partners expect the joint venture to do business of about
$10 billion in its first year of operation, the state-run Indian
bank said in a statement.
The country's largest bank by assets holds 65% of the joint
venture, while French group Societe Generale holds the remaining
stake.
-By Nupur Acharya; Dow Jones Newswires; +91-22-61456117;
nupur.acharya@dowjones.com
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