State Bank of India (SBI), country’s largest public sector lender is eyeing 20% growth in credit and 16% growth in deposits in the current financial year. Despite low demand from new corporate houses, the overall credit growth is achievable as the demand from personal and home loans had been robust and also many existing corporate clients had been approaching for refinance owing to low interest rates. Further, the bank is expected to maintain the net interest margin at 3.6 per cent for the whole year.
For the year ended March 31, 2013, the bank’s net profit surged by 20.48% at Rs 14104.98 crore as compared to Rs 11707.29 crore for the year ended March 31, 2012. Bank’s total Income has increased by 12.26% to Rs 135691.94 crore for the year under review from Rs 120872.90 crore for the previous fiscal.
