SBI sees loan growth picking up from next year

Written By Unknown on Selasa, 24 Maret 2015 | 21.03

Most banks have yet to cut their base lending rate, despite a 50 basis point reduction in the key policy rate by the central bank so far this year.

State Bank of India , India's largest lender, expects loan growth to rise to as much as 15 percent in the fiscal year to March 2016, boosted by government auctions for coal concessions and mobile radio airwaves, Chairman Arundhati Bhattacharya said on Tuesday.

That compares to what is expected to be "very very low" loan growth of below 10 percent in the current fiscal year, Bhattacharya said in an interview.

She also said a cut in India's cash reserve ratio, the share of deposits which lenders must hold with the Reserve Bank, would "definitely help" banks to cut lending rates, Bhattacharya said.

Most banks have yet to cut their base lending rate, despite a 50 basis point reduction in the key policy rate by the central bank so far this year.

SBI stock price

On March 24, 2015, State Bank of India closed at Rs 270.40, down Rs 4.3, or 1.57 percent. The 52-week high of the share was Rs 335.90 and the 52-week low was Rs 171.40.


The company's trailing 12-month (TTM) EPS was at Rs 16.61 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 16.28. The latest book value of the company is Rs 158.43 per share. At current value, the price-to-book value of the company is 1.71.


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