The Business Bytes
TBB BUREAU
MUMBAI, DEC 5, 2022
The country’s largest bank, State Bank of India (SBI) surpassed the milestone of Rs. 5 trillion personal banking advances on November 30, 2022. This is a significant achievement considering the bank completed this last Rs. 1 trillion growth in just 12 months. SBI marked the first Rs. 1 trillion mark in January 2015, followed by Rs. 2 trillion in January 2018, Rs. 3 trillion in August 2020, when COVID-19 was at its peak, and the Rs. 4 trillion mark in November 2021. The trajectory indicates the bank’s progression at an accelerated pace.
SBI has always been ahead of the curve in offering superior value proposition for its esteemed customers. Personal Banking advances mainly comprise Personal loan, Pension loan, Auto loan, Education Loans, P-Gold loan, and Other Personal loan products.
Commenting on the milestone of Rs. 5 Trillion, SBI Chairman Dinesh Khara said, “The bank has always strived to and set aspirational benchmarks for the industry. We are extremely grateful to our customers and stakeholders who have trusted us and played a significant role in achieving this growth. A series of tactical measures and digital initiatives undertaken over the past few years played a crucial role in our journey to the Rs. 5 Trillion mark under Personal Banking advances (other than Housing). We are committed to making banking a delightful experience for our customers.”
