State Bank Of India

State Bank of India (SBI), country’s largest public sector lender aims credit growth of 19-20% in the current financial year. It had reduced its credit growth target to 16-19% during last fiscal from an estimated projection of 19-22% at the beginning of the year.

The bank has lowered the growth target mainly due to lack of demand from corporate due to economic slowdown in general. The loans by banks increased by over 17% to Rs 47.6 lakh crore as on March 23, against Rs 40.6 lakh crore reported in the same period last year.

Recently, SBI has gone on large scale restructuring drive as the bank is expected to restructure loans worth Rs 2500-3000 crore in the fourth quarter. This is significantly higher than loans worth Rs 2662 crore that were restructured by SBI in the first nine months of this year.