BANK NEWS
SBI launches USD 1 billion stressed assets fund with Brookfield AMC
Mumbai: Country's largest lender SBI and Brookfield Asset Management have set up a joint venture with initial commitment of over USD 1 billion to make investments in businesses with stressed assets.
Brookfield will commit around Rs 7,000 crore and State Bank of India up to 5 per cent of the total investments into stressed assets, the state-owned bank said in a statement.
"This approach of collaborating with global players will enable the banks in general and SBI in particular, to find alternate solution for resolution of stressed assets," Chairman Arundhati Bhattacharya said in the statement. Asianage
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