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SBI’s retail personal loans cross Rs 10 trillion

The State Bank of India’s credit growth is back on track, at 11% year on year. Corporate credit growth continues to rise. Dinesh Khara, Chairman, stated that the retail personal portfolio has surpassed Rs 10 trillion, with home loans, Xpress credit, and other loans driving the growth.

Whole bank advances of SBI grew by 11 % and domestic advances growth stood at 10.27% y/y primarily driven by growth in retail personal advances (15.11% y/y). Retail personal loans have recorded a 3-year CAGR at 16%. Foreign office advances grew by 15.42%. Khara said: “Home loan, which constitutes 23% of bank’s domestic advances, has grown by 11.49% and corporate loans have also registered a growth of 11.15% in the last FY.” 

SBI has registered its highest quarterly net profit of Rs 91.14 billion in Q4FY22, witnessing a growth of 41.28% y/y. Net profit for FY22 grew by 55.19% y/y to Rs 316.76 bn. Gross NPA ratio of SBI is down by 101 bps y/y at 3.97%, while net NPA ratio is down by 48 bps at 1.02%. Provision Coverage Ratio (PCR) of the bank has improved by 416 bps y/y at 75.04% and its slippage ratio for Q4FY22 stands at 0.43%.

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