NEW DELHI: The country's largest lender SBI has targeted to grow 10-12 per cent in the current financial year, on the back of green shoots of revival in credit demand and better recoveries of loans. "Taking cues from the last year, the bank has set the goal to achieve a healthy credit growth of 10-12 per cent in 2019-20. To an extent, the credit revival and recoveries in FY19 have already set the tone and the bank is confident of achieving the target set for FY20," SBI Chairman Rajnish Kumar said in his message to shareholders. After a significantly low credit growth in the previous couple of years, the banking industry witnessed a pick-up in credit growth during 2018-19 due to strong revival in credit to the corporate sector driven largely by government investment and continued demand from personal loan segment, Kumar said. Besides, the bad loans in the corporate segment declined from 21.92 per cent in 2017-18 to 13.62 per cent in 2018-19.

Source: Mint June 04, 2019 11:26 UTC