Highlights of Chairman Bhatt's speech at SBI's 53rd AGM

[K.Karthik Raja]

Highlights of Chairman Bhatt's speech at SBI's 53rd AGM
Wednesday, Jun 12

MUMBAI - Below are the highlights of State Bank of India Chairman
O.P.
Bhatt's speech at the state-run bank's 53rd Annual General Meeting
here today:

* SBI overseas operations' share in total net 9.7% FY08 vs 8.64% FY07.
* Reiterates SBI scaling up ATMs to 15,000 by March vs 8,460.
* Manufacturing growth showing signs of losing momentum.
* SBI in advanced stage of preparations to set up equity fund.
* Biggest challenge for banks is to support growing economy.
* Challenge for banks is also to expand financial inclusion.
* U.S. sub-prime crisis not to significantly impact SBI.
* SBI has no direct exposure to US sub-prime market.


K.Karthik Raja