NEWS & ADVICE : SAVINGS ACCOUNTS
Lending started showing signs of a pick up: SBT
By Neelima Shankar
Dec 31, 2012
Print    Email    RSS   

Lending has begun to show positive signs of pickup, according to Mr. P Nanda Kumaran, Managing Director of State Bank of Travancore,"I think this trend will continue into the rest of the financial year", Mr. Kumaran added in an interview.

Mr. Kumaran quoting the figures said that the lending was not muted during the festival season. He said, "There was substantial growth in retail credit growth from 18.62 per cent in August to 27.03 per cent in November this year."

Mr. Nanda Kumaran put the growth post November is Rs 2877 crore. Growth in some sector might not show the kind of recovery expected, he said, "But we hope these sectors would turn around as we go forward into the last quarter."

In the case of infrastructure, the growth has been uncertain due to thee the gloomy economic condition. "But as a bank, if I can bring down the interest rates and make those projects take off faster, then that is an area that I should work on," Mr. Nanda Kumaran said.

The growth on the deposit side has been 18 per cent on the year-to-year basis. Overall, SBT has been doing well in terms of business growth, profitability and profits.


 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Carnival of Indian Personal Finance Blogs #6
Savings account portability: How...
How to check balance in savings bank account
Steps to file Income Tax return online
Carnival of Indian Personal Finance Blogs #4


HOW MANY BALANCE IN MY SAVING ACCOUNT
HOW MANY BALANCE IN MY SAVING ACCOUNT
HOW MANY BALANCE IN MY SAVING ACCOUNT
MY PASSBOOK IS LOST I WANT APLY NEW PASSBOOK?
How many rs balance in my account sbi
Pl. find the address of account holder Accont no....

NEWS THIS WEEK
HDFC bank adjudged as the Best private bank in India Feb 16, 2015
HDFC reported an increase of 20% in its net profit Feb 16, 2015
ICICI bank launched Flash remit facility Feb 13, 2015
BOM launched new savings deposit scheme for HNI customers Feb 12, 2015
BMB bank to have a total of 80 branches by the March end. Feb 10, 2015
News Archive