The public sector lender, State Bank of Bikaner & Jaipur, is hoping to grow its balance sheet by 20 percent by the end of December 2013. According to a senior official, it is targeting a business turnover of around Rs. 1,50,000 crore this fiscal.
On the matter, Mr. Shiv Kumar, the Managing Director of the Jaipur based bank said, "Our balance sheet was at Rs 1,23,000 crore as of December 31, 2012, and we are aiming to take it to Rs 1,50,000 crore by the end of 2013 December."
Reportedly, the associate bank of State Bank of India, SBBJ, will have a figure of Rs. 1,30,000 crore on its balance sheet, as a result of credit growth and increased deposits mobilizations. Mr. Kumar further added, "The first two quarters were not so good on credit growth and we ended up having more deposit growth than credit growth. But the things have been improving in the last (third) quarter onwards."
The hike has increased the bank's loan's book to 16.5 percent as on December 31 last year. This is equal to the deposits growth and the bank further plans to achieve a business growth of 17 percent in the advances segment this fiscal.