State Bank of India (SBI), country’s largest public sector lender is aiming to attain a 25% growth in deposits in the current fiscal compared to 14.85% in 2012-13. Further the bank is also aiming to attain a 25-30% growth in housing loans at Rs 30,000-35,000 crore in the current fiscal.
During 2012-13, the entity has witnessed slow down in deposits growth on the back of absence of a level playing field with mutual funds. SBI's 'advances portfolio' grew at 21% in 2012-13. The average loan growth seen in the whole banking system was at 14% during the period.
SBI reported 4.08% rise in its net profit at Rs 3396.06 crore for third quarter ended December 31, 2012 as compared to Rs 3263.04 crore for the same quarter in the previous year. Total income from operation of the bank increased by 14.11% at Rs 33992.11 crore for quarter under review as compared to Rs 29787.37 crore for the quarter ended December 31, 2011.
