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State Bank of India is on course to achieve a major milestone, with its home loan portfolio expected to cross INR 10 lakh crore in the next financial year, supported by sustained housing demand and a supportive interest rate environment. The country's largest lender recently crossed the INR 9 lakh crore mark, making it the biggest mortgage provider in India. Home loans now account for over one-fifth of SBI's total assets, underlining their central role in the bank's balance sheet. Consistent growth, strong asset quality and stable retail demand continue to drive momentum in this segment.
State Bank of India is preparing to cross the INR 10 lakh crore mark in its home loan portfolio in the next financial year, driven by steady demand for housing finance and favourable borrowing conditions. The lender's home loan book recently exceeded INR 9 lakh crore, cementing its position as the largest mortgage lender in the country and the single biggest business vertical within the bank. Advertisement
Home loans currently account for more than 20 per cent of SBI's total assets, reflecting the scale and importance of the segment. The portfolio has been expanding at a growth rate of around 14 per cent, putting the bank on track to achieve the next milestone within the coming year.
The lender closed the last financial year with a home loan book of INR 8.31 lakh crore, recording a growth of over 14 per cent compared to the previous year. Over the long term, the expansion has been gradual and consistent, growing from the INR 1 lakh crore level in 2011 to over INR 9 lakh crore during the past month.
Asset quality in the home loan segment has remained strong, with gross non-performing assets contained at well below 1 per cent. At the end of the last financial year, gross NPAs in housing loans stood at 0.72 per cent, among the lowest across the banking sector.
The bank expects overall credit growth of around 14 per cent during the current financial year, led largely by the retail, agriculture and MSME segments, which together account for over two-thirds of the total loan book. Alongside home loans, the lender is also seeing healthy traction in MSME credit, agriculture lending, gold loans and select unsecured personal loan products.
Source - PTI
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