The Hindu Business Line : PSBs set to top target for SME credit

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New Delhi Feb. 6 The Finance Ministry expects the public sector banks' (PSB) overall credit exposure to small and medium enterprises (SMEs) to exceed the targeted growth of 20 per cent this year.

SME credit of these banks stood at Rs 1,73,460 crore as on December 31, 2006, which is a 28.30 per cent increase over the credit level of Rs 1,35,200 crore as on December 31, 2005.

Official sources said that the current trend indicated that SME credit growth of these banks should comfortably exceed the 20 per cent year-on-year growth target for the current fiscal.

SME lending grew by 14.97 per cent to Rs 1,73, 460 crore as on December 31, 2006 from a level of Rs 1,50,871 crore as on March 31, 2006.

Among the large PSBs, State Bank of India's SME credit exposure grew 21.91 per cent to Rs 45,744 crore as on December 31, 2006 as against Rs 37,522 crore on December 31, 2005. Bank of India's credit exposure to SMEs grew by 23.64 per cent to Rs 18,221 crore as on December 31, 2006 as against Rs 14,737 crore on December 31,2005.

While Canara Bank's SME credit exposure grew 17.02 per cent to Rs 13,300 crore as on December 31,2006 (Rs 11,366 crore), Punjab National Bank's SME credit grew by 28.35 per cent to Rs 13,410 crore (Rs 10,448 crore).

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