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State Bank of India to divest stake in SBI Life.

Global Banking News-October 17, 2016--State Bank of India to divest stake in SBI Life

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Global Banking News - 17 October 2016

State Bank of India (NSE: SBI) has said that it is to divest a stake in SBI Life.

The bank said that it is to divest its 5 percent stake in SBI Life to a non-promoter entity. SBI Life Insurance is a joint venture between State Bank of India and BNP Paribas Cardif.

The Indian bank owns 74 percent of the total capital and BNP Paribas Cardif holds the rest.

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Publication:Global Banking News (GBN)
Date:Oct 17, 2016
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