SBI Set to Surpass Rs 10 Lakh Crore Milestone in Home Loans

State Bank of India (SBI) aims to surpass Rs 10 lakh crore in its home loan portfolio by the next fiscal year, driven by strong demand and favorable interest rates. Currently, the portfolio stands at over Rs 9 lakh crore, making it India's top mortgage provider, with continued growth anticipated.

The State Bank of India (SBI), the nation's largest lender, is on track to reach a new milestone, with its home loan portfolio expected to exceed the Rs 10 lakh crore mark in the next fiscal year. This growth is fuelled by strong demand and a supportive low-interest rate climate.

Currently, SBI's home loan portfolio is valued at over Rs 9 lakh crore, constituting more than 20 percent of the bank's total assets. This highlights the bank's dominance in India's mortgage market, as pointed out by SBI Chairman C S Setty in an interview with PTI.

The bank's proactive approach in managing non-performing assets has kept them below 1 percent. The RAM segment is driving the bank's overall credit growth to 14 percent, with MSME loans growing at 17-18 percent, and agriculture and retail at 14 percent.

(With inputs from agencies.)