SBI May Revise FY17 Credit Growth Guidance Upwards
SBI maybe revise credit growth guidance upward of this year’s 12 percent in the future.
State Bank of India will revisit its guidance for credit growth in the current financial year after September and may revise it upwards, chairman Arundhati Bhattacharya said at a banking summit in Mumbai.
I have said 12 percent (credit growth) this year. 14 percent is what I had said last year. We are already growing at close to 12 percent, so this is the slow quarter. That being said, we may revise our projections sometime in the middle of the year. But as of now 12 percent is what we are projecting.Arundhati Bhattacharya, Chairman, SBI
The review will largely depend on demand for high value project loans, Bhattacharya said. She was speaking on the sidelines of a banking summit organised by the Federation of Indian Chambers of Commerce and Industry and Indian Banks’ Association.
The country’s largest lender expects retail to continue as the fastest growing segment, with growth in the current financial year likely to be around 22 percent.
It would be difficult to accurately identify the potential upside to growth at this stage, as it would depend on how upcoming projects come on stream and how the bidding process takes place, Bhattacharya added.