The Hindu Business Line : SBI sees credit growth slowing down to 25%

New Delhi April 19 State Bank of India (SBI), the country's largest lender, expects its advances growth to slow down to 25 per cent this fiscal as against the 28 per cent growth recorded in 2006-07.

The credit growth rates of public sector banks too are likely to slow down this fiscal, following the Finance Minister, Mr P Chidambaram's remark on Thursday that aggregate PSB credit growth of 30 per cent needed to be moderated.

"It is already moderating. I am sure there will be further moderation. For SBI, I expect the credit growth to be about 25 per cent. Last year, it was about 28 per cent", Mr O.P. Bhatt, SBI Chairman, told reporters here on Thursday. Interest rates

The SBI Chairman also said that interest rates have peaked or are near peak. Asked about the proposed follow-on public offering of SBI, Mr Bhatt said "some time this fiscal". He also felt home loan rates would not go up any further.

More Stories on : Credit Market | Public Sector Banks | State Bank of India

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