Money & Banking

SBI clocks credit growth of 6-7%, says chief

Our Bureau. Mumbai | Updated on October 07, 2020

State Bank of India (SBI) has clocked a credit growth of 6-7 per cent so far, with growth more or less reaching 70-80 per cent of pre-Covid-19 levels in certain sub-segments, according to its new Chairman Dinesh Kumar Khara.

If one includes investments made by India’s largest bank in the non-convertible debentures and commercial papers issued by India Inc, the credit growth will be around 10 per cent. Credit has been driven by the retail segment.

Khara said the bank is closely monitoring the behaviour of borrowers who are opting for loan restructuring. He emphasised that not many corporates have approached SBI for restructuring.

The SBI chief felt that the loans – both personal and corporate – that may come up for restructuring, will be manageable. He added that his bank will reach out to all customers.

Khara said there are no immediate plans for the listing of subsidiaries, SBI General Insurance and SBI Funds Management Pvt Ltd (the Asset Management Company of SBI Mutual Fund).

Published on October 07, 2020

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