State Bank of India (SBI), country’s largest public sector lender is planning to focus more on lending to large and mid-corporate segments. It has decided to stiffen entry norms for mid-corporates by making the firm credit selection process, according to which the bank will lend only to companies which fall under investment grade or above in both these segments. As on March, banks lending to large and mid-corporate segments grew year-on-year by 40% and 18% respectively.
The bank’s net profit contracted by 18.54% at Rs 3299.22 crore for the fourth quarter as compared to Rs 4050.27 crore for the quarter ended March 31, 2012. However, total Income of the bank has increased by 6.98% to Rs 36330.87 crore for the quarter ended March 31, 2013 from Rs 33959.54 crore for the quarter ended March 31, 2012.
