State Bank of India (SBI) Aims to Reach ₹ 100 Trillion Business in Next Financial Year
- SBI Chairman CS Setty predicted that SBI will reach ₹ 100 trillion in total business in the next financial year, provided it maintains a 14-16% loan growth rate and 10% growth in deposits.
- The bank’s loan book was ₹ 39.2 trillion at the end of September, while deposits stood at ₹ 51.17 trillion.
- SBI aims for 10% growth in deposits and maintains an incremental credit deposit (CD) ratio of 100%.
- SBI is opening 65,000 savings accounts daily to facilitate deposit mobilisation.
State Bank of India (SBI)
- A multinational public sector bank headquartered in Mumbai, Maharashtra.
- 48th largest bank globally by total assets.
- Ranked 178th in the Fortune Global 500 list of 2024’s biggest corporations.
- Chairman: Challa Sreenivasulu Setty
- Founded in: 1 July 1955
