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24 Feb 2009

Cheers Time for SBI | SBI becomes more valuable than Citibank


1. It is a good news as SBI has become the biggest bank in terms of market capitalisation as subprime crisis has hit citibank in a big way. Citibank is suffering due to its exposure in doubtful assets.

2. Mkt capitalisation of Citigroup is Rs 57,328 crore as against Rs 66,449 crore of SBI (based on closing share price on Friday i.e. 20 Feb 2009.

3. Citigroup's tier-I capital adequacy ratio is at 11.9% of total performing assets, which is one of the best in the world and in view of above Govt of America is going to increase its stake in the bank which will help to increase the confidence in general public.

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