India's SBI Cards aims to keep non-performing assets at 2.4-2.5% -CEO [Reuters]
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Source: Reuters
India's SBI Cards aims to keep non-performing assets at 2.4-2.5% -CEO MUMBAI, Feb 25 (Reuters) - India’s SBI Cards aims to keep the proportion of non-performing assets at 2.4%-2.5% of its total assets, Chief Executive Officer Hardayal Prasad said on Tuesday while addressing the media ahead of the company’s initial public offering. Gross non-performing assets stood at 2.47% at the end of last year, down from around 2.9% in March 2018. SBI Cards and Payments Services Ltd, the credit card subsidiary of the country’s largest lender State Bank of India (SBI), aims to raise nearly $1.25 billion via an initial public offering. The company plans to issue new shares worth 5 billion rupees and will offer up to 130.5 million shares for sale, according to its prospectus released earlier this month. The price range for the IPO has been fixed at 750-755 rupees per share. The issue will open for subscription on March 2 and close on March 5. SBI Cards has the second largest market share in terms of n
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