NEWS & ADVICE : FIXED DEPOSITS
SBI deposit share up by 1.5 pct
By Neelima Shankar
Jul 22, 2009
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The share of State Bank of India and its associate banks in the total bank deposits raised by the commercial banks by end of March 2009 rose by 1.5 percent to 24.1 percent from the earlier 22.6 percent.

The overall share of public sector banks in bank deposits has increased from 48.5 percent last year to 49.5 percent during FY 2009-10.

The total deposits of the bank (including its associate banks) stood at Rs 950,797 crore as on March 31, 2009, whereas the total deposits raised by commercial banks stood at Rs 3,937,337 crore, as revealed by RBI.

The assessment done on base of Rs 39 lakh crore and reveals the bank’ capability to acquire an equivalent mid-sized bank with a deposit base of Rs 60,000 crore. The bank has drawn deposits from private and foreign banks.

However, the share of both private peers and foreign banks both has dropped.

The share in total deposits of private banks fell to 18.2 percent from 20.3 percent during the last fiscal.

The market share of foreign banks has also declined marginally from 5.6 percent during last fiscal to 5.2 percent during this fiscal.

It is reasoned that mobilisation is caused by higher return rates offered by SBI and its subsidiaries.

However, the share of bank (SBI) has increased marginally from 22.8 percent during FY2008-09 to 23.1 percent in FY2009-10 from 22.8 percent.

Recently, SBI reduced its deposit rates by up to 25 basis points across various maturities. 


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