SBI personal loan portfolio crosses Rs 5 lakh crore mark in November

5 Dec 2022 , 03:54 PM

State Bank of India's portfolio of personal loans  surpassed the Rs 5 trillion barrier at the end of November this year. In a portfolio that includes gold, pension, vehicle, and education loans, the bank disbursed Rs 1 trillion in loans in a calendar year. Housing loans aren't in the portfolio.

In January 2015, SBI finished disbursing loans totaling Rs 1 trillion. In January 2018, it disbursed loans totaling Rs 2 trillion. When Covid-19 was at its height in August 2020, it reached Rs 3 trillion, and in November 2021, it reached Rs 4 trillion. The bank claimed that to increase the portfolio of personal banking loans while maintaining low delinquencies, it focused on the salaried class and individuals with firm financial profiles.

The bank's portfolio of mortgage loans crossed the Rs. 5 trillion thresholds in January 2021. The portfolio is anticipated to reach Rs 7 trillion by the fiscal year 2023—2024 (FY24) and Rs 10 trillion by the fiscal year 2027. Rising wages, a greater desire among young people to own homes early in life, and government initiatives like the reductions in stamp duty and subsidies all contribute to the expansion.

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