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Sunday, September 15, 2013

10-12% growth in project finance portfolio: SBI

The project finance segment of State Bank India, the country's largest lender, is witnessing a 10-12 per cent growth on a year-on-year basis.

According to P.K. Malhotra, Deputy Managing Director, SBI Project Finance SBU, the bank has witnessed an increased outflow towards project finance.

Higher number of projects have also been sanctioned.

The project finance unit accounts for nearly 10 per cent of SBI's total portfolio.

"Project sanctions are higher than last year," Malhotra told reporters on the sidelines of the "Banking Colloquium 2013" organised by the Confederation of Indian Industry (CII).

According to him, while others might stop lending because of the slowdown; SBI has not done so. This has led to growth in sanctions.

Retail Growth

SBI, he said, is expecting a credit growth in the region of 18-20 per cent during the July-September quarter.

"Credit growth in the current quarter is being driven by retail portfolio," he said.

Source: thehindubusinessline


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