SBI sees $230 mn treasury depreciation

Written by Reuters | New Delhi, June 30: | Updated: Jun 30 2008, 20:27pm hrs
State Bank of India, the country's largest lender, on Monday said it would likely have to set aside at least 10 billion rupees ($232.8 million) to provide for depreciation in its treasury portfolio as interest rates rise.

"I cannot say anything now but it will be a significant amount," Chairman O.P. Bhatt told reporters. "It can easily be 10 billion rupees."

Bhatt said he hoped to maintain the net interest margin at 3 percent in this fiscal year.