Mumbai: SBI’s chairman CS Setty on Friday said the country’s largest state-owned bank and two other private sector lenders will be among the top-10 banks globally by market capitalisation by 2030.

Speaking to reporters on the sidelines of an event organised by the lender here, Setty said SBI’s market capitalisation has touched USD 100 billion, and there are two other Indian private sector lenders having significant valuations.

“It may not be SBI alone. We have two major private sector banks, where market capitalisation is significant. So, I think they will also move along with us,” Setty said.

Setty reiterated that SBI had spelt out its aim to be among the top-10 lenders by market capitalisation by 2030, initially.

The SBI chairman did not name the other two banks.

Largest private sector lender HDFC Bank is the most valuable with Rs 15.11 lakh crore market capitalisation, followed by ICICI Bank at Rs 9.59 lakh crore m-cap. SBI is valued at Rs 8.82 lakh crore.

SBI is the largest Indian lender by asset size, and stands at the 43rd position globally. The comments also come at a time when the government is undertaking efforts to create big banks by size through consolidation.

Setty said that while the Rs 25,000 crore core capital raise may not move the needle by much, and is not growth capital for SBI, which never faced any challenges on the capital front, it is aimed more at giving comfort to the industry that the buffers are at a reasonable level.

Now that the capital ratios have improved, Setty said the overall capital adequacy will touch over 15 per cent by the end of the year, with the core level at 12 per cent, and is committed to always maintaining the tier-I level above the 12 per cent mark.

High interest among engineering graduates in joining the bank has helped the country’s largest lender reduce the time spent on imbibing technology into the staff, which has supported them in deploying talent much faster to the floor.

He said the amount of training that the bank provides to staff is among the highest in the industry.