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SBI to hike stake in credit card JVs to 74%

SBI to hike stake in credit card JVs to 74%

Thursday, March 16, 2017, 7:22 AM

SBI said it will hike its stake in its two credit card joint ventures with General Electric Company to 74%. SBI's board has given approval to infuse Rs.1,160 crore in two JVs SBI Cards and Payment Services Pvt Ltd and GE Capital Business Processes Management Services Ltd through purchase of equity shares from GE Capital to increase bank's stake in both companies to 74%.
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