The country's largest public sector bank, State Bank of India, has recorded 17 percent year-on-year increase in credit growth till the end of third quarter of this fiscal. The reason for its credit growth is said to be an increase in its retail segment loans book.
The growth reported in its retail segment loans - particularly home loans and auto loans - has been satisfactory, plus, its corporate loans book is also showing signs of improvement.
The banks has posted 17.8 percent year-on-year hike in credit, till the quarter ending September 2012. The retail segment loans book has hiked by 13.6 percent, with loan dues standing at Rs. 191760 crore.
As for its non-performing-assets (NPAs), the Chairman and Managing Director of SBI, Mr. Pratip Chaudhuri said that the situation is improving and that the worst is over. SBI has recorded increase in NPAs to Rs. 49202 crore for the quarter ending September 2012. On the other hand, its provisions coverage ratio for such bad debts decreased to 62.78 percent in September, 2012.