Mumbai: The State Bank of India (SBI) has set a target of around $100 million in income from its overseas operations. Addressing the bank's annual general meeting here on Thursday, A. K. Purwar, chairman, said that SBI's income from its overseas operations in 2004-05 was $50 million.

Currently, the bank has 54 overseas offices in 28 countries. In the coming months, the bank plans to increase the number of overseas offices to around 75.

In February 2005, SBI picked up a 51 per cent stake in Mauritius-based Indian Ocean International Bank Ltd (IOIB). Furthering its acquisition plans, the bank is looking to acquire small and mid-sized banks in Asian and African countries, Purwar said.

Purwar also said the bank hoped to bring the NPAs to below 2 per cent by March 2006. It will lend aggressively to agriculture, small and medium enterprises and retail consumers and also seek to tap opportunities in the services industry.