[sbinews] SBI Non-food Credit to increase

  • From: sbistcbangalore@xxxxxxxx
  • To: sbinews@xxxxxxxxxxxxx
  • Date: Sat, 13 Dec 2003 07:00:48 +0500

SBI expects non-food credit to rise 15% in FY04

MUMBAI: State Bank of India (SBI) expects its non-food credit to expand by 15% 
in the current financial year to March, its chairman AK Purwar  said. 

“I am expecting 15% growth this year,” he told reporters when asked about his 
bank’s non-food credit growth in the current financial year. “Everybody is 
talking of expansion,” he said referring to discussions between the bank’s 
officials and customers. While speaking on the sidelines of a bankers’ 
conference, he said SBI was also planning to increase its overseas business. 
“We have 50 offices in 28 countries. In two years, we plan to have 75 offices 
in 36 countries,” he said. He said that the bank was aiming to strengthen its 
presence further in the domestic market. Retail loans, which have been a major 
driver of growth for banks in recent years, would remain in focus, he said. 

“We have not fully and adequately covered the country and we plan to cover the 
market more intensely, especially in areas such as retail, agriculture and 
services,” Mr Purwar said. SBI currently has a share of around 20% in all 
banking business in India . 

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