SBI's personal banking advances excluding home loans cross Rs 5 lakh-cr mark

SBI's personal banking advances excluding home loans cross Rs 5 lakh-cr mark

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 lakh-crore mark under personal banking advances," the bank's chairman Dinesh Kumar Khara, said

PTIUpdated: Monday, December 05, 2022, 03:18 PM IST
article-image
Image credit: Wikipedia (Representative)

SBI on Monday announced that its personal banking advances excluding high value home loans have crossed the Rs 5 lakh-crore mark.

The largest lender in the country took a year to book the last Rs 1 lakh crore of advances, as against over 15 months for the previous Rs 1 lakh crore and over 30 months for the previous Rs 1 lakh crore, as per an official statement.

"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 lakh-crore mark under personal banking advances," the bank's chairman Dinesh Kumar Khara, said.

Khara stressed that the Rs 5 lakh crore excludes housing loans, where the bank has the numero uno position in the market.

Personal Banking advances mainly comprise personal loans, pension loans, auto loans, education loans, gold loans, and other Personal loan products, the statement said.

SBI has 22,309 branches, over 65,000 automated teller machines and also 66,757 business correspondent outlets, which drive the entire retail banking franchise.

(To receive our E-paper on WhatsApp daily, please click here.  To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

ADVERTISEMENT

RECENT STORIES

Zydus Receives Final Approval From The USFDA For Esomeprazole Magnesium

Zydus Receives Final Approval From The USFDA For Esomeprazole Magnesium

Delhivery Partners With Mystore To Drive Growth For Rural Entrepreneurs

Delhivery Partners With Mystore To Drive Growth For Rural Entrepreneurs

Zomato shares rise after 'Kachra' ad is taken down

Zomato shares rise after 'Kachra' ad is taken down

Happiest Minds’ CRPP Solution Honored At The CISO Summit & Awards 2023

Happiest Minds’ CRPP Solution Honored At The CISO Summit & Awards 2023

Airtel Reaches Over 2 Million Customer On Its 5G Network In Bihar, Jharkhand, and Uttar Pradesh East

Airtel Reaches Over 2 Million Customer On Its 5G Network In Bihar, Jharkhand, and Uttar Pradesh East