3 Indian banks make it to top 50 by assets in Asia-Pacific region in 2023
In the list, State Bank of India is at the 20th position, HDFC Bank at 33 and ICICI Bank at 48th spot.
The country’s largest lender State Bank of India (SBI) on Monday clarified that its Hong Kong branch did not have any exposure to the companies of multi-crore-rupee Punjab National Bank (PNB) fraud main accused Nirav Modi or Mehul Choksi.
“We refer to the news dated 18 February 2018 and 19 February 2018 reported by some sections of media and advise that SBI Hong Kong Branch does not have any exposure against any corporates/banks based upon LOUs/LCs issued by PNB, Brady House Branch,” the bank said in a statement.
“Further, SBI Hong Kong Branch does not have any exposure to the Nirav Modi Group of companies and/or Mehul Choksi group of companies whose names are linked to the PNB fraud,” it added.
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