The largest lender in the nation, State Bank of India, anticipates maintaining its current rate of credit expansion while striving to keep its net non-performing asset ratio around 1%, its top executive told ET on Wednesday.
The bank stated that it anticipates credit growth of 14%—16% for the current financial year as it takes up efforts to recruit deposits after releasing results for the June—September quarter earlier this month.
The most recent central bank data show that as of Nov. 4, Indian banks had overall loan growth of about 17%, while deposit growth was 8.25%.
In the three months ending in June-September, the lender’s net non-performing asset (NPA) ratio decreased to 0.8%.
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