The Hindu Business Line : SBI credit outlay in Kerala touches Rs 3,800 crore

THE credit extended by the Kerala Circle of the State Bank of India in the State has doubled in the last four years, registering an increase of 124 per cent.

Revealing the figures, office bearers of the State Bank Of India Officers' Association Kerala Circle said that the credit had gone up to Rs 3,800 crore at the end of November 2004 from around Rs 1,700 crore in March 2000. The deposits had also gone up by about 66 per cent from about Rs 4,300 crore to Rs 7,100 crore.

Of the credit disbursed by the bank, they said that around 12 per cent constituted agriculture loans, which is likely to increase in the coming years due to the policies adopted by the Union Government for the benefit of agriculture sector. Kerala Circle stood second among other 14 circles of SBI in the country in the credit disbursement, they added.

Speaking at a press meet organised in connection with the second Triennial Conference here, the officials said that the faster growth rate of credit underlined the commitment of the bank to the economic progress of the State and this is also brought out by the increase in CD ratio of the bank in Kerala from below 40 per cent in 2000 to 54 per cent at present, they said. To serve each and every centre, the bank has been expanding its network in the State by opening new branches.

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