SBI expects 16-18% credit growth this fiscal
Express news service : New Delhi, Sun Oct 14 2012, 01:02 hrs
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After the slight turnaround in industrial output, the country's largest lender State Bank of India, on Saturday said that it expects loan growth of 16 to18 per cent in the current fiscal.
"There is demand slowdown. We expect a credit growth of 16-18 per cent for 2012-13," said SB Nayar, deputy managing director, SBI, adding that in corporate loans, some sectors such as ports, consumer goods and cement were doing well in terms of credit offtake.
Meanwhile, Nayar said that the recent rating downgrade by Standard & Poor's (S&P) on SBI, will have no impact as the agency has only brought the rating on par with the sovereign rating. So, there will be no cost implication on raising of funds, he said.
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