SBI Forecasts Robust Loan Growth Amid Economic Prospects

The State Bank of India (SBI) anticipates a loan growth of 14-15% for the 2024-25 fiscal year, driven by the current economic growth rate. The bank's chairman, Dinesh Kumar Khara, highlighted that this growth correlates with GDP growth and inflation rates, and indicated the bank's favorable position regarding deposits and liquidity.

State Bank of India (SBI) is projecting a loan growth rate of 14-15% for the fiscal year 2024-25, influenced by the current economic growth trajectory, according to Chairman Dinesh Kumar Khara.

'Typically, GDP growth plus inflation and an additional 2-3% inform our forecast, pointing to around 14%,' Khara explained in an interview with PTI.

Khara emphasized that the projected growth is contingent on lending opportunities aligning with the bank's risk appetite. Moreover, he mentioned a significant deposit growth of 11% over the past year and the bank's strategic measures, including a recent hike in fixed deposit rates, to maintain a robust loan-to-deposit ratio.

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