State Bank of India (SBI) expects to give out 3.5 trillion rupees ($42.30 billion) in corporate loans over the rest of this financial year as private companies step up investments in key sectors, the chairman of the country's largest lender said.
A man checks his mobile phone in front of a State Bank of India branch in Kolkata, India, February 9, 2018. REUTERS/Rupak De Chowdhuri/File Photoexpects to give out 3.5 trillion rupees in corporate loans over the rest of this financial year as private companies step up investments in key sectors, the chairman of the country's largest lender said.
And nearly 80% of this incremental loan demand is coming from the private sector, SBI chairman Dinesh Kumar Khara told Reuters in an interview over the weekend.About 70% of the 3.5 trillion rupees would be in term loans and help boost SBI's corporate loan book by 12%-13% this fiscal, said Khara. "In the core sectors, it is essentially the addition to capacity in sectors like steel, cement, road infrastructure and airports."Credit demand in India has been mostly for home, auto and personal loans and SBI has been very "mindful" of the potential stress this segment could cause, given high interest rates.
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